Morvarid Petrochemical Plant, a supplier of monoethylene glycol (MEG) in Iran, is planning to expand its export markets to Europe and India.
The plant’s managing director, Gholamreza Jokar, said the previous calendar year which ended on March 20 was a favorable year for his company as it bolstered activities at its MEG unit and could operate at 88 to 90% of its nameplate capacity.
He said the facility eyes enhanced production and expanded export markets in the new year.
“For the time being, China is the biggest byer of our MEG but we must mind diversifying our customers in the current year by cementing long-term deal with them,” he added.
Morvarid Petrochemical Plant exported 430,000 tons of monoethylene glycol (MEG) to customers in China and India over the course of the past 15 months.
The exports have fetched the company some $300m.
The MEG unit of the plant can supply half a million tons of the item as well as 50,000 tons of diethylene glycol (DEG) and 3,400 tons of triethylene glycol (TEG) annually.
Since its inauguration in January 2016, the plant has supplied 450,000 tons of MEG of which 430,000 tons has been exported and the rest has been sold on the domestic market.