Iran eyes major petchem projects by March 2017

TEHRAN, April 06 (Shana) –- Iranian Minister of Petroleum Bijan Zangeneh has said Iran will launch major petrochemical projects during the current Iranian calendar year which began on March 20 with an investment of $5b.

Zangeneh said the projects include a methanol production plant in Assaluyehl south of Iran.

The plant will run with the nameplate capacity of 2.5 million tons per year of methanol.

Furthermore, three polyethylene projects in Sanandaj, Mahabad and Loresan, all located west of Iran with a capacity to produce 300,000 tons of products annually will also come on-stream.

Two more petrochemical plants in Assaluyeh and Bandar Imam will also come on-stream by the end of the current Iranian calendar year to March 19, Zangeneh said.

He said Iran’s ministry of petroleum is seriously focused on bolstering downstream and petrochemical industries across the country, adding that completion of the value chain in the petrochemical sector will be in line with materialization of resistive economy requirements.

“Small petrochemical plants can supply 40,000 to 50,000 tons of products annually which can generate jobs in the country,” he said.