Tondgouyan Petrochem Company to Raise Output
EghtesadOnline: The production of different grades of polyethylene terephthalate (PET) products at Shahid Tondgouyan Petrochemical Company in Khuzestan Province exceeded 106,000 tons in the third month of the current Iranian year (May 22-June 21), bringing the cumulative production of the first three months of the year to 290,000 tons.
The raise in production is the result of the development programs at the company, which are aimed at diversifying the products and setting a new record in the company’s output, the Oil Ministry’s news agency Shana reported.
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 the recent products of the company.
Another product is a new grade of High Viscose PET, also called engineering polyester yarn. It is used to produce industrial yarns with 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 knowhow to produce three more grades of PET.
Established in 1998, STPC is the largest producer of PET products and pure terephthalic acid in Iran.