Tehran, Iran, Aug. 21
By Mehdi Sepahvand -- Trend:
The port city of Chabahar in southeastern Iran is going to turn into the country's petrochemical hub.
With a petrochemical output of 23 million metric tons per year, Chabahar is expected to turn into the major petrochemical hub in the Makran area, Hassan Malek Esmaili, director of the Makran Petrochemical Zone said, Shana reported August 21.
The Chabahar petrochemical complex is going to be accomplished with an $11 billion investment by the private sector, becoming the largest of its kind in the region.
He added so far numerous delegations from Japan, India, and China have traveled to Iran in search of an opportunity to invest in this project.
After the first phase of the complex comes on stream, it is expected that an annual amount worth $5 billion will be exported from this area.
After three phases of the complex are finished, they will accommodate jobs for 20 thousand people directly and another 60 thousand indirectly.
To be completed in four years, the second phase of the complex will export worth $6 billion products abroad.
Urea, ammonia, methanol, methanol, ammonia, olefins, aromatics and melamine crystal will be among the outputs of the factory.
About 30 downstream industrial units are also envisioned to join the complex.
As the third phase is also accomplished, the complex will produce 23 million metric tons of petrochemical products, 20 million metric tons of which will be exported, turning Chabahar into a petrochemical hub, Esmaili further said.
Iran says that for the next five years, it needs $185 billion investment in its oil and gas sectors.
The country has also said that it will need an investment of $70 billion in its petrochemical industry.
Edited by CN