BAKU, Azerbaijan, June 30
By Elnur Baghishov – Trend:
A contract has been signed on the construction of High Density Polyethylene (HDPE) plant in the West Azerbaijan Province (north-western Iran), Trend reports citing Shana News Agency.
The contract was signed between Iran's Tabriz Petrochemical Company and Energy Industries Engineering and Design (EIED), the report said.
According to the contract, the production capacity of the plant will be 310,000 tons of heavy polyethylene per year.
"About $220 million will be spent on the construction of this plant," the report said.
The exports of Tabriz Petrochemical Company will increase about 3 times with the construction of this plant. The construction of the plant is expected to be completed by March 2024, the report said.
Reportedly, the polymer production of Tabriz Petrochemical Company will increase 2.2 times with the launch of this polyethylene plant.