Rahbord Energy: Masoud Kefayatmand Ghayour, the CEO of Farabi Petrochemical, has said great achievements have been made at Farabi Petrochemical over the last year due to the efforts of its colleagues. According to Kefayatmand, the company got out of accumulated losses and seeks to improve its productivity and efficiency by replacing the catalyst.
He referred to the measures taken regarding the supply of stable feedstock for the complex and said there have been other good events, the results of which will be seen this year. He said the company has doubled the feedstock of diethyl hexanol for the production of “dioctyl phthalate (DOP),” which has increased to 577 tons per year.
Furthermore, according to Kefayatmand, the company is investigating the supply of ortho-xylene feedstock in the production of phthalic anhydride (PA) through Bouali Sina Petrochemical. It’s hoped that the project will be concluded in the form of an inter-complex contract. By doing this, the supply of ortho-xylene feedstock will become stable. By accomplishing this goal, ortho-xylene will be received through the pipeline, and the transportation costs that previously came from optical petrochemicals will be eliminated. The company is also looking to develop the reservoir tanks, which is a rare and special opportunity for Farabi Petrochemical, because it has land for the development of reservoir tanks. Furthermore, it has access to open seas and export docks.
The CEO of Farabi Petrochemical also referred to the implementation of projects for fumaric acid and synthetic ethanol and said the company has two very good development projects. One is the plan to extract fumaric acid from PA wastewater, which is making good progress and can produce 1400 tons of fumaric acid per year and solve environmental problems.
Kefayatmand also stated that the project of converting methanol to synthetic ethanol with a cost of 116 million dollars, which has a Internal rate of return of about 26%, is a very profitable project. He said its feasibility studies and justification plan are being refined due to market conditions, so that firm steps can be taken to implement them. According to Kefayatmand, approvals have been obtained, and the company is financing the project through negotiations with banks and the National Development Fund. He said some groups have announced their readiness to become financiers, so there are plans to hand over the project to them in the form of EPCF.
He said supplying sustainable feedstock to the complex and development plans are good events that were laid last year with the efforts of former managers. He said it’s hoped the company will put them into operation this year. Furthermore, the company is pursuing the resolution of the company’s legal cases, which has reached a very good stage.
According to Kefayatmand, there is now good news for Shafara shareholders in the coming months.
Source: Farabi petrochemical Department of Public & International Affairs
