Petchem projects to come on stream in Assalouyeh
Two units at Morvarid Petrochemical Complex and the second phase of Pardis Petrochemical Company will be inaugurated tomorrow in Assalouyeh, southern Iran.
A total of 900 million dollars has been invested in the projects which are anticipated to add 2.25 million tons to the domestic petrochemicals production capacity, the Mehr News Agency reported.
President Mahmoud Ahmadinejad is scheduled to attend the inauguration ceremonies.
The Morvarid unit will produce ethylene and the Pardis unit will produce urea and ammonia.
The projects will create over 1,000 direct jobs and nearly 15,000 indirect jobs.
Oil reserves in Iran rank third-largest in the world at approximately 136 billion barrels as of 2007. This is roughly 10 percent of the world's total proven petroleum reserves. Iran is the world's fourth-largest oil producer and is OPEC's second-largest producer after Saudi Arabia.
Iran has the world's second-largest reserves of natural gas (15% of the world's total). It contains an estimated 974 trillion cubic feet in proven natural gas reserves. About 62% of these reserves are located in non-associated fields.