Sephedar Ansari Nik announced during a visit by the Vice President for Business Planning and Development of Persian Gulf Petrochemical Industries Company (PGPIC) and his accompanying delegation that the recent decision by PGPIC’s Board of Directors and its planning division has added four international-standard projects to Bandar Imam’s development portfolio.
“With this new approach, Bandar Imam will transform into a global-scale polyolefin super-producer,” Ansari Nik said. “The total planned investment for these projects is approximately $2.2 billion, which will ultimately increase the complex’s petrochemical production capacity by 3 million tons.”
He noted that, according to current plans, Bandar Imam Petrochemical’s revenue is projected to grow from around $2 billion to over $4 billion within the next five to seven years. “This achievement is the result of strategic decisions made by the Board of Directors, PGPIC’s CEO, and the planning and development division of this major industrial group,” he added.
Addressing the long-standing challenge of feedstock supply, Ansari Nik explained: “For over 30 years, feedstock fluctuations have been one of Bandar Imam’s most critical strategic issues. Since taking office, we have established a dedicated Planning and Feedstock Supply Department, increasing engagement with the National Iranian South Oilfields Company (NISOC), our main NGL supplier. Through direct investment and on-site cooperation, we have boosted NGL intake from an average of 40,000 barrels per day in 2021 to over 80,000 barrels per day.”
He further stated that since early 2024, the company has also received 18,000 barrels per day of feedstock from the NGL 3200 project, developed jointly with PGPIC, significantly increasing production and exports.
The CEO also pointed to plans to complete and commission the second phase of the Hoveyzeh Gas Refinery. “With the decision of PGPIC’s planning division and the support of the group’s CEO, Bandar Imam Petrochemical will finance this project. Once completed, it will enable us to reach a capacity of 160,000 barrels per day of NGL feedstock in the near future — a historic milestone for Iran’s petrochemical industry,” he said.