NEWS
Petrochemical  

Over $1b invested to build 4 petchem parks across Iran

Managing Director of Iranian Investment Petrochemical Group (IIPG) says nearly 44 trillion rials (about $1.04 billion) has been invested to construct four petrochemical parks across the country.

The construction of these four petrochemical parks would create more than 12,000 direct jobs and the average return rate of the projects is about 30 percent,” Rasoul Ashrafzadeh told IRNA.

According to the official, the first park is going to be established in Urumieh city in West Azarbaijan Province with 7.5 trillion rials (about $178.5 million) of investment.

This petrochemical park will create direct job opportunities for 940 people, while offering 2,900 indirect jobs, the official said.

“The park will be built to work on six areas, including resin making, melamine sheets, laminate flooring, MDF, HDF and parquet,” he added.

The official further noted that three other parks are going to be constructed in Ilam and Chaharmahal-Bakhtiari provinces.

As reported, two parks are set to be built in Chaharmahal-Bakhtiari province while the other one is based near Ilam.

These parks will also have different areas for producing a variety of petrochemical products including laminate sheets, paint, leather, synthetic leather, paper industries in seven areas, melamine, chemical fertilizers, and plastic industries, etc.

The construction of petrochemical parks is considered complementary of the petrochemical industry’s value chain and can prevent the sale of raw materials and the import of similar products, thus preventing the outflow of revenue from the country.

Petrochemical industry plays a crucial role in Iran’s non-oil economy, as the petrochemical export is the second largest source of revenue for the country after crude oil. Petrochemical exports already constitute nearly 33 percent of the country’s non-oil exports.

Iran has been highly developing this sector over the recent years as the development of the giant South Pars gas field (Iran shares with Qatar in the Persian Gulf) has been supplying more feedstock to the petrochemical units.

Also, the U.S. sanctioning Iran’s oil exports has encouraged more development of the petrochemical industry to boost exports from this sector.

The country has also been developing the industry’s downstream sector in order to promote the production of products with more added-value.

In this regard construction of petrochemical parks, petro-refineries alongside the development of the country’s current petrochemical complexes is highly pursued by the oil ministry and especially the National Petrochemical Company (NPC).

Comments:

Leave a Comment:

   
   
   
 

95% of population in Iran supplied with natural gas

The managing director of National Iranian Gas Company (NIGC) says that the national gas transferring network covers 95 percent of the country’s population, IRNA reported.
 

SP 6th refinery feedstock to increase 42% by Mar. 2021

The feedstock supplied to the sixth refinery of the South Pars gas field will be increased by 42 percent by the next Iranian calendar year (begins on March 21, 2021), IRNA reported.
 

Zahedan-Chabahar railway’s 2 sections to be completed by next 10 months

Head of Iran’s Budget and Planning Organization (BPO) announced that two sections of Zahedan-Chabahar railway are going to be completed by the end of the current Iranian calendar year (March 20, 2021).
 

SP phase 11 jacket installation starts

Iranian President Hassan Rouhani ordered start of the jacket installation in the Block-B reservoir of South Pars gas field ‘s phase 11 of development via video conference on Thursday, Shana reported.
 

SP phase 19 refinery to go through annual overhaul

The operator of phase 19 of Iran’s South Pars gas field said overhaul operations for the field’s 10th refinery, which processes the gas from phase 19, are going to be started on June 9, IRNA reported.
 

CBI capable of controlling currency market: governor

Governor of Central Bank of Iran (CBI) Abdolnasser Hemmati says the bank is going to control the currency market just like it did in the previous year, IRNA reported.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners