Iran to launch new petrochemical company
Tehran, Iran, Feb. 22
Iran's Minister of Cooperatives, Labor and Social Welfare Mohammad Shariatmadari has inaugurated the construction of a new petrochemical plant in Andimeshk County in Khuzestan Province.
Kimia Andimesht Petrochemical Industry will have the production capacity of 200,000 tons of monoethylene glycol and 25,000 tons of ethylene glycol, Trend reports citing Fars News Agency.
The company CEO Abuzar Zangoiee Nejad noted: "The construction project will last 48 months and the production capacity in phases two and three of the petrochemical company is expected to increase to more than 1 million tons per year."
A total of $500 million have been assigned for this project, while it is expected to create jobs for more than 3,000 people during the construction period and 400 employment opportunities after its inauguration.
The plant will be built with aid from Chinese Wuhan Company under an Engineering, Procurement and Construction (EPC) contract with Iran.