Saeed Sadeghi, CEO of Amir Kabir Petrochemical company, has said the company pursues the goal of diversification or market value by participating in international exhibitions.
He also referred to the signing of a 500 million euro memorandum of understanding in Arabplast and said this memorandum was for the olefin 14 project, which upon completion and parallel to the west ethylene line, will complete the central ethylene line complex and will add a significant percentage to the net asset value (NAV) of the country’s petrochemical industry.
According to Sadeghi, this is part of Amir Kabir 2 Petrochemical copmlex, which requires the officials to do more in order to materialize. He said the project had been promised 17 years ago and now it needs to be implemented with foreign investment.
He added that last year the company participated in several exhibitions to seek new markets in a bid to shift away from the Chinese market. He noted that criticism has been leveled at the company over its focus on the Chinese market because 85% of its exports go to China. For this reason, the company is seeking new markets, and now Amir Kabir’s Petrochemical exports to China have decreased to 73%.
He said that with the diversification strategy, Amir Kabir petrochemical is now present in the European, African, and CIS markets. The company seeks to identify new markets so that the profitability of the company will be higher than before.
The CEO of Amir kabir Petrochemical referred to the support of knowledge-based companies and the internalization of needed catalysts and the resulting currency saving and said Amir kabir Petrochemical has collaborated with knowledge-based companies and is in the process of setting up an innovation center.
In the field of catalyst, the company is now able to use the front end for its olefin unit, and it’s hoped to use it in the overhaul of olefin. He noted that if the company wanted to supply this catalyst from abroad, it would have to pay a foreign exchange fee of about 17 to 18 million dollars, but now, in cooperation with domestic knowledge-based companies, it has produced it indigenously with just 13% of that amount.
Sadeghi also noted that in other areas, the company has internalized the gearbox of the HDPE unit and is in the process of internalizing most of the mechanical equipment. In the field of electrical devices, the knowledge is more complicated, but it is also advancing them so that the company can include them in the next year’s report of the company’s general assembly.
Source: Amir Kabir Petrochemical Department of Public & International Affairs
