Petchem complex in Iranian free zone to come on stream in 2018

Oil&Gas Materials 15 December 2015 17:09 (UTC +04:00)

Tehran, Iran, December 15

By Mehdi Sepahvand - Trend:

The first phase of a major petrochemical complex in Iran's Chabahar is set to come on stream in 2018, Mokran Petrochemical Industrial Complex Masterplan CEO Mohammad Reza Movasaghnia said.

The first phase includes six plants, whereas the full project is comprised of 18 plants with an annual output of 23 million metric tons in a 10-year peak, he told Trend's correspondent on the sidelines of the 12th Iran Petrochemical Forum in Tehran.

Commenting on the characteristic features of the plan, he said it has access via free waters to India, Pakistan, and China and is about 800 kilometers closer to the destinations than Iran's other petrochemical hub Asaluyeh.

Furthermore, it is situated in Chabahar which is a free economic zone and enables foreign investors to buy as much as 100 percent of any of the plants' shares, Movasaghnia stated.

The project is also exempt of income tax for 20 years, he noted, adding that access to the cross-country railroad as well as cheap workforce are other strong points about the project.

The plants will also get two sets of discount on feed, one related to its being situated in a free zone, and the other for being situated in an underdeveloped area, he asserted.

The output of the complex will be urea, ammonia, methanol, various types of polyethylene, aromatics, MEG, MTP and melamine crystal.

Of the total output, 20 million metric tons per year are set for export and the rest will be sent as feed to downstream industries.