Iran's Amir Kabir Petrochemical Plant has planned to launch a natural gas liquids (NGL) project, NGL 2300, with an investment of 900 million euros.
Director of the NGL 2300 Project at Amir Kabir Petrochemical Plant Houshang Karimi said the project is being developed with the aim of supplying feedstock and boosting the facility's production capacity to as much as 2 million tons per year, NIPNA reported.
He said Amir Kabir Petrochemical Company's output has been roughly 30 to 40 percent below its nameplate capacity in recent years, adding the project would compensate for the lack of production of the facility.
The Project Manager of NGL2300 of Amir Kabir Petrochemical Company further referred to the advantages of launching the project, saying: "To resolve this issue, the Iranian Ministry of Petroleum approved of inauguration of the project to secure feedstock supply to the facility… Once operational the unit will boost the plant's olefin output from 530,000 tons per year to 750,000 tons per year."
He said an investment of 900 million euros was made in the project with two and a half years of return on investment and generation of 2,500 jobs during its construction.