In accordance with the policies of Farhangian Reserve Fund and Petrofarhang Holding to enter the downstream petrochemical industry in order to create added value and create sustainable wealth for the fund’s members, as well as prevent the sale of methanol, Mahtab Parsian Petrochemical Company will be established with the aim of producing products such as olefins and formaldehyde in the Parsian energy region of Hormozgan province.
According to the public relations report of Petrofarhang Holding, Alireza Mojarad, CEO of Mahtab Parsian Petrochemical Company, announced this news: In accordance with the general policies of the system in order to create sustainable wealth for the members of the Farhangian Reserve Fund, this project, as one of the largest assets of Farhangian members, will be implemented as Petrofarhang’s largest project in the downstream petrochemical industry.
He continued: This project is located in the Parsian Energy-intensive Industries Special Zone in Hormozgan Province and geographically has the best location for creating downstream projects because it reduces the costs of transporting feed and energy and, given its proximity to the sea, it also has the potential for direct export abroad. Therefore, by completing this project, a favorable economic future can be created for Farhangian Reserve Fund.
Referring to the construction of the most complete methanol derivative products production park in this project, Mojarad said: This project was initially defined as a GTX project, but due to governance requirements and gas imbalances, it was decided to change to MTP, MTO, MTG and formaldehyde park projects, and Mahtab Parsian will become a complete park of methanol downstream products.
The CEO continued: Mahtab Parsian is a multi-billion dollar project, and according to the negotiations and planning carried out in the holding and the company, its financing will soon be implemented and its implementation operations will begin. Given the diversity of its product portfolio and proximity to feedstocks and export destinations, Mahtab Parsian will become one of the most important petrochemical companies in the country in the near future.
In conclusion, Mojarad said: Mahtab Parsian produces products such as propylene and polypropylene, which have diverse applications in various industries. Other future products of this company include superabsorbents, gasoline and LPG gas. Also, various types of formaldehyde resins, which have applications in the wood and MDF industries, and various types of resins in the paint, coatings and adhesive industries, are also among the other products produced by this company.