Large formalin production plant inaugurated in southern Iran

Business Materials 4 March 2013 17:21 (UTC +04:00)

Azerbaijan, Baku, Mar.4/ Trend G.Mehdi/

A large petrochemical unit, which produces formalin, was inaugurated in Bandar Abbas, southern Iran.

The plant, which is the largest of its kind in the Middle East, has the annual capacity of 56,000 tons, IRNA reported.

The construction of the plant started in 2009 through making investment by the private sector.

Formalin is widely used in healthcare, animal farming, and medical treatment industries.

Iran has significantly expanded the range and volume of its petrochemical products over the past few years, and the National Iranian Petrochemical Company (NIPC) has become the second largest producer and exporter of petrochemicals in the Middle East after Saudi Arabia, Press TV reported.

The Islamic Republic exported a total of 18.2 million tons of petrochemical and polymer products, worth about $14.2 billion, to more than 60 countries in the previous Iranian calendar year (ended March 19, 2012).

Iran's petrochemical products mostly include ethylene, methanol, urea, polyethylene and polyolefin, according to the NIPC.