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EghtesadOnline: Karoun Petrochemical Company (KRNPC) is expanding exports to South America by sending cargo to Peru and Uruguay, the company's commercial manager said.

“Under the sanctions regime, Iran’s petrochemical export was limited to the Middle East, such as Turkey and the UAE. Nonetheless, some South American states have now joined the customers' list including European countries like Sweden, Albania, Russia and Greece,” Kazem Bastakian was quoted as saying by Mehr News Agency on Saturday.

Noting that one of KRNPC’s main products is toluene diisocyanate (TDI), a compound widely used in manufacturing glue and packaging industry, Bastakian said that the company started production of the organic compound five years ago.

Asked whether exporting such goods to far-flung destinations such Peru and Uruguay is economically viable, the official said the costs and risk involved in shipping the goods to South America is the responsibility of buyers and not his company, Financial Tribune reported. 

On exporting isocyanates products namely toluene diisocyanate and methylenediphenyl diisocyanate (MDI), Bastakian noted that such commodities are usually sold in barrels, yet the method of delivery depends on the customer and if the products are sent in tankers, the buyer will be entitled to a discount because eliminating barrels also reduces the cost.

According to the official, KRNPC exported 7,000 tons of isocyanates in the first nine months of the 2016-17 fiscal. 

The company uses chlorine, carbon monoxide, hydrogen, toluene and nitric acid as raw material to produce basic petrochemicals and final products with higher value added.

Iran petrochemical Iran-Peru trade Iran-Uruguay trade