Good News For shareholders of VKar

Propane Dehydrogenation (PDH) in Koroush Petrochemical Project

Operational Execution of Koroush Petrochemical Project started. In order to prevent selling raw materials and natural resources, Karafarin bank has started the operational execution of Koroush petrochemical project in Mahshahr. This is one of the most complete petrochemical project in Iran.

This will be implemented with the aim of preventing raw material sales as well as job creating. Furthermore, increasing domestic product is another goal of this effort.
This project; as one of the most complete specialized operations of Petrochemical industry is a subsidiary company of Karafarin Financial Group.
The groundbreaking ceremony of the project was held by the presence of Senior managers: Ahmad Baharvandi; MD of Karafarin Bank, Mohammadreza Khorsandi; board member, Jafar Haghighi; MD of Karafarin Financial Group, Sohrab Sadeghi; Assistant of MD in banking affairs and Roshdi Benam; MD of Koroush Petrochemical plant.
Some of managers of National Iranian Petrochemical Company (NIPC) and also officials of Petrochemical Special Economic Zone attended in the groundbreaking ceremony in Mahshahr.
It is expected to become one of the most complete projects in terms of implementation of Propylene value chain.
The project will be run in 2 phases. The first phase will consist of construction of industrial and non-industrial buildings as well as PDH unit.
The second phase will include downstream units to implement value chain of Propylene.
Roshdi Benam; MD of Koroush Petrochemical project explained: the required equipment will be bought as soon as engineering phase ends.
It is estimated to run the pre-establishment operations after 38 months. Also, utilization of the project will be started after 42 months.

Publish Date: Nov 19, 2022