Three major projects, including a petrochemical plant and a dam, were officially inaugurated on Monday in Kohgilouyeh-Boyerahmad Province in the presence of President Ebrahim Raisi.Gachsaran Petrochemical Complex with an annual production capacity of 1 million tons of ethylene and 84,000 tons of C3+ was launched, the Oil Ministry’s news service Shana reported.The petrochemical complex has been completed with an investment of $1.46 billion.Receiving 1.25 million tons of ethane from the Persian Gulf Bidboland Gas Refining Company through a 90-km pipeline, the plant produces ethylene and C3+ which, in addition to generating income, feed complexes located on the route of the West Ethylene Pipeline, as well as several petrochemical plants.Located on 157 hectares, Gachsaran Petrochemical Complex receives 12 million cubic meters of water from the Kowsar Dam annually. It receives 54,000 cubic meters per hour of gas and 50 megawatts of electricity from the national networks.The design, construction and installation of important equipment required by the complex have been carried out by more than 70 Iranian manufacturers and knowledge-based companies. More than 83% of the equipment of the project were manufactured domestically.Gachsaran Petrochemical Company will play an important link in the value chain to turn associated petroleum gases to polymer products. Ethylene is a colorless gas produced on an industrial level using the steam-cracking process of ethane and naphtha. It is flammable in nature and commonly used as feedstock by chemical manufacturers to produce polyethylene, ethylene oxide, ethylene dichloride and ethylene benzene. The gas is also used for ripening fruits on a bulk level. Additionally, ethylene is used as a refrigerant and a fuel gas in welding and cutting processes.The global ethylene market reached approximately 150 million tons in 2021 and is expected to grow at a CAGR of 4.09% and reach about 260 million until 2035.The primary driver of the global ethylene market is the synthesis of polyethylene. In 2021, approximately 54% of global ethylene were utilized by the polyethylene industry. Various industries employ polyethylene due to its flexibility, durability, lightweight nature and resistance to moisture.  (ICE TEHERAN)

Fonte notizia: Financial Tribune