The project, with an investment of $328 million, was launched by
Acting President Mohammad Mokhber during a virtual ceremony attended by Petroleum
Minister Javad Owji, Deputy Petroleum Minister and NPC CEO Morteza Shahmirzaei,
and the CEO of Persian Gulf Petrochemical Industries Company.
Established in 2007 on a 25-hectare site in Phase 2 of the South Pars
Special Economic Energy Zone, Hengam Petrochemical had 99.31% of its shares
owned by the Persian Gulf Petrochemical Industries Company until 2019. These
shares were auctioned to Nouri Petrochemical Company to expedite the project's
financing and progress.
The Engineering, Procurement, and Construction (EPC) contract for the
Hengam project was awarded to the Iranian company Petrochemical Industries
Design and Engineering Company (PIDEC). For the first time, the primary
reformer was designed and manufactured by this company. All required catalysts
were supplied by two Iranian knowledge-based companies, Serv and Khwarizmi,
utilizing maximum domestic capabilities. Initially, the EPCC contract
stipulated that 11% of the equipment should be domestically produced, but this
figure increased to 27.5%, demonstrating a 2.5-fold increase over the original
agreement.
Hengam Petrochemical benefits from direct access to open waters and a
dedicated export dock. The plant uses natural gas as its feedstock, with fuel
gas supplied by Damavand Petrochemical Company. The ammonia unit, under the
license of Haldor Topsoe from Denmark, has an annual production capacity of
725,000 tons. Additionally, the urea production unit, under the license of
Saipem from Italy, has a capacity of 1,155,000 tons per year, with a total
project investment of €538 million.
Once fully operational, Hengam Petrochemical will directly employ 800
individuals and indirectly create 2,000 jobs, with 52% of the workforce being
recruited from the local area. The main shareholders are Nouri Petrochemical
Company with 99.31%, Popok Indonesia with 0.63%, and Petrochemical Investment
Company with 0.06%.