The Petrochemical Research and Technology Company (PRTC) has signed a deal with the Persian Gulf Petrochemical Industries Company (PGPIC) for developing technical know-how for local manufacturing of strategic petrochemicals and catalysts in Iran.
The document was signed in a ceremony held in the presence of PRTC Managing Director Esmaeil Ghanbari and PGPIC chief Adel Nejad Salim here in Tehran on Sunday, reported source.
The memorandum is entitled "Co-operation in providing technical and research services in the field of product development, solving procedural, equipment, and production increase problems, developing and acquiring technical know-how related to the production of petrochemicals, catalysts and industrial membranes", and is aimed at completing the technology cycle and meeting the needs of the petrochemical industry.
Maximum utilization of research capabilities and potentialities of the deal's signatories, in order to improve the technology level of manufacturing petrochemical units, the use of new technologies and elimination of production bottlenecks are also considered in the deal.
"The needs of the petrochemical industry are clear, and fortunately the PRTC is far ahead of other oil industry research fields, taking effective steps in this direction, and is now witnessing the flourishing of its activities and achievements," said PGPIC managing director in an address during the signing ceremony.
He also voiced his company's readiness to close ranks with PRTC to materialize petrochemical industry's goals in various fields.
PGPIC is the biggest supplier of petrochemicals in Iran.
According to its website, it is responsible for trading the whole products of PGPIC’s subsidiaries. This amount values about $10.5 billion, annually. Normally 39% of production volumes are exported (7.2 MMT) that would cover 45% of our production value, indicating export of high-value products. Moreover, PGPIC is the sole producer of some specific products in Iran, making it the only source of PTA, PET-TG, PET-BG, TDI, MDI and E-PVC in Iran’s petrochemical industry. Its products are most likely to be marketed in North East and South East Asia, followed by Indian Subcontinent, Western Europe and Middle East, respectively.