Western Iran PC plants target making $8b/y: The Iranian Minister of Petroleum says petrochemical industries in western Iran will produce worth $8 billion per year.
Speaking on the inaugural ceremony of “Mahabad Petrochemical Plant” in northwestern Iran on Tuesday (May 31st, 2016) “Bijan Namdar Zanganeh” said in the current Iranian year (to end March 20th 2017), Iranian petrochemical units located in western regions of Iran, will produce over 2 million tons of products.
The biggest petrochemical complex in North-West of Iran, Mahabad Petrochemical Co. was inaugurated with President Hassan Rouhani.
The western group of petrochemical plants is Iran’s third petrochemical hub, the creation of which was ordered by the Iran’s Parliament (Majils) in 2002. The plants are largely launched in Kurd areas of Iran.
“These made up the biggest project ever that the government deliberately initiated with the aim to develop the Kurd regions,” Zanganeh stated.
He noted that “Ilam” and “Takht-e Jamshid” petrochemical complexes were launched in previous years as part of the group, adding that a polyethylene plant in “Asaluyeh” and another one in “Mahabad” were added to it this year.
The minister said the petrochemical group is part of a greater picture, to fully implement which mid-stream industries are also needed to be launched along the way.
“With such support, we will have a bright future for Mahabad, Kurdistan, Kermanshah, and Ilam,” Zanganeh expressed hope.
Speaking in the same event, Deputy Oil Minister for Petrochemicals Marzieh Shahedaei said, “About 1,700 kilometers of the ethylene pipeline of western Iran has become operational, while the original plan includes 2,650 kilometers of pipeline.”
“The pipeline can supply up to 3 million tons. So far five compression stations have been installed along the way. 12 trillion rials ($396 million) has been invested in the pipeline, which excludes the compressors,” Shahdaei further explained.
Mr. Najafi, the investor of Bakhtar Holding also spoke about the output of the group at the time being. “Kavian petrochemical with 2 million tons of ethylene, Kermanshah polymer with 100 thousand tons, Luristan with 330 thousand tons of linear and heavy polyethylene, Mahabad with 330 thousand tons of linear and heavy polyethylene, and Kurdistan with 300 thousand tons of polyethylene are the plants that are currently operational,” he said.
“The total operational output is 260 thousand tons. The value of investments underway is $1.2 billion, making a total of 4.7 billion in the end.”
5,000 people are directly employed at the projects and 3,000 more direct job opportunities will be created once the projects are accomplished, Najafi further said.
The official stated that the projects are 90 percent through, adding that 78 percent of their shares are privately held, and the rest are held by the Oil Ministry’s Retirement Fund and other governmental companies.
**************************************
About “Mahabad Petrochemical CO.”
Mahabad Petrochemical Company, member of the Bakhtar Petrochemical Group is established to develop petrochemical production chain and create employment in the west region Of IRAN with the participation of National Petrochemical Company and the private sector investment. The project area is 185 hectares and annual productions capacity are 300,000 MT/Y of polyethylene (HDPE & LLDPE) and 30,000 MT/Y Butene-1. Mahabad Petrochemical site is located at 15 kilometers of mahabad to Urmia road.
Feasibility study and Preliminary activities of the project were started at 2004 and its execution works were started at 2010.
****************************************
News translated by
Mehdi Sepahvand
mehdisepahvand1@gmail.com
PIMI English Editor
