Miandoab petrochemical plant to be commissioned in Iran

Oil&Gas Materials 24 June 2020 13:25 (UTC +04:00)
Miandoab petrochemical plant to be commissioned in Iran

BAKU, Azerbaijan, June 24

By Elnur Baghishov – Trend:

Miandoab petrochemical plant in Miandoab county of West Azerbaijan Province (northwestern Iran) to be commissioned tomorrow (June 25), Executive Director of Miandoab petrochemical plant Ahad Mahdavi told Iran’s National Petrochemical Company’s official website, Trend reports.

According to Mahdavi, about 40 million euros and 120 million dollars funds were spent on the construction of the plant.

Mahdavi added that the plant will produce 140,000 tons of polyethylene a year.

The director said that once domestic demand is met, part of the production will be exported by Bakhtar Petrochemical Company.

Mahdavi noted that more than 400 people were employed at the plant.

The shareholders of Miandoab petrochemical plant are Bakhtar Petrochemical Company (70 percent) and Pushineh Methanol Company (30 percent).

Bakhtar Petrochemical Company purchased the equipment of the plant under the license of Mitsui Company of Japan.

The opening ceremony of the Miandoab petrochemical plant online will be attended by Iranian President Hassan Rouhani, Oil Minister Bijan Zanganeh and Executive Director of Iran’s National Petrochemical Company and Deputy Oil Minister of Behzad Mohammadi.

Iran produced 31 million tons of petrochemicals in the last Iranian year (March 21, 2019 - March 20, 2020). Of these, 8 million tons were sold within the country, and 23 million tons of products were exported. The total sale value was $15 billion.

Iran currently produces 66 million tons of petrochemical products a year. It is planned to increase this production to 100 million tons and the country's revenues from $17 billion to $25 billion until 2022.

At the same time, it is planned to increase production to 133 million tons and revenues to $37 billion in Iran’s petrochemical sector until 2026.