EghtesadOnline: Shahid Tondgouyan Petrochemical Company in Khuzestan Province has set a record in the production of polyethylene terephthalate (PET) products during the first seven months of the current Iranian year (March-October), managing director of the company said.
“About 670,000 tons of products were produced in the period, which was 10% more compared to the company’s output in the same period of last year,” Reza Qasemi Shahri was also quoted as saying by the Oil Ministry’s news agency Shana.
“During the seven-month period, more than 60,000 tons of products were added to the company’s production,” he said, adding that this is a record figure in the history of the company since it was established 16 years ago.
The rise in production is the result of the company’s development plans, which included repairing the air compressor, replacing boilers and substituting catalysts.
With the completion of several projects, the company set an annual record of 1.1 million tons of products in the last fiscal year (March 2020-21), which was unprecedented in the company’s history. STPC seeks to break that record this year.
The net profit of the company recorded a growth of 76% in the last fiscal year (ended March 20, 2021) compared to the previous year. The company earned more than $105 million last year while the figure was $60 million a year ago. Its sales also increased by 41% from $350 million to $500 million in the same period.
In the past two years, more than 10 new PET grades have passed lab tests and entered the market. PET film grade (BoPET films) and PET bottle grade for use in the packaging and food industries are among recent products.
Another product is a new grade of High Viscose PET, also called engineering polyester yarn. It is used to produce industrial yarns of high strength. The use of engineering polyester yarn includes tire yarn, tarpaulin tents, sturdy fabrics, fishing nets, shipload ropes and conveyors.
The production of crystal PET for use in ovens and microwave containers is also underway. High tenacity polyester will be added to the company’s production soon.
HTPET has the ability to undergo high tension stress and is used as chords in auto tire manufacturing. The company is striving to gain the technical know-how to produce three more grades of PET.
Located at the Petrochemical Special Economic Zone in the southwestern Khuzestan Province, STPC is the largest producer of PET products and pure terephthalic acid in Iran.