Mini petrochemical plant to be commissioned in Iran's Ardabil Province

Oil&Gas Materials 25 June 2020 10:27 (UTC +04:00)
Mini petrochemical plant to be commissioned in Iran's Ardabil Province

BAKU, Azerbaijan, June 25

By Elnur Baghishov –Trend:

A mini petrochemical plant will be commissioned in the Ardabil Province (northwestern Iran) during the next three months, Director of the plant Fathi Bitaraf said, Trend reports citing Industry, Mine and Trade Organization’s official website.

According to Bitaraf, this plant is being built by Arta Industrial Group, and 800 people will be employed with the commissioning of the plant.

Bitaraf added that 13 trillion rials (about $309 million) have been invested in the construction of the plant.

"The plant will mainly produce methanol, which will be used in chemistry industry and polymer production. The main part of the plant's products will be used by Arta Industrial Group's own plant," he said.

The director noted that surplus products will be sold in the local market.

Iran produced 31 million tons of final petrochemicals in the last Iranian year (March 21, 2019 - March 20, 2020). Of these, eight 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.