Managing Director of Tamin Petroleum & Petrochemical Investment Co. (TAPPICO) Mohammad-Hassan Peyvandi says Abadan Petrochemical Co. (APC), which is the oldest polymer company in the Middle East, is to be renovated.
Talking to Shana, Peyvandi said plans have been made for reconstruction and renovation of certain petrochemical facilities run by TAPPICO and said, “We are in efforts to renovate the facility so as to raise its efficiency.”
Abadan Petrochemical Co. dates as back as the year 1963 when French oil institute was commissioned through the Plan and Budget Organization to launch comprehensive studies for establishment of petrochemical industries in Iran. Abadan Joint Stock Petrochemical Company was hence established with National Petrochemical Company having 74 percent share and the American B.F. Goodrich Company having 26 percent share.
Operations for construction of Abadan Petrochemical Company started in 1967 and it was put into operation in 1969.
Peyvandi said despite its old chronology, Abadan Petrochemical Company runs to its low capacity.
“We plan to use new technologies to raise production and minimize pollution.”
Managing Director of TAPPICO said feedstock, geographical location and manpower are the advantages of Abadan Petrochemical Company and said, “What’s of importance is the feedstock of the company, which is supplied by Abadan Refinery and we will try to raise the amount of the feedstock.”
The early capacity for annual production of the refinery is 20,000 tons of PVC, 10,000 tons of dodecylbenzene and 24,000 tons of caustic soda. In 1975, the project for expansion of the refinery was launched to raise its PVC output up to 60,000 tons a year.
Abadan Petrochemical Company was ruined in the years 1980-1988 as a result of the eight-year (1980-88) Iran-Iraq war. After the war, Abadan Petrochemical Company was reconstructed by experts.
Peyvandi said Abadan Petrochemical Company is not a big facility and needs not much investment. “Its units are gradually reconstructed. Foreign financing is the best option for renovation of Abadan Petrochemical Company.”