Azerbaijan, Baku, Nov. 30 / Trend, M. Moezzi/
Nearly one-fourth of the construction of the Damavand petrochemical plant in Iran's Assaluyeh zone is completed, PANA news reported.
The Damavand project is Assaluyeh's biggest project and targeted for exploitation in four years.
Iran's government provides 20 percent of the loan needed for the project. The Damavand petrochemical project worth $4 billion (43 trillion rials) started in 2006-2007 and is divided into three phases.
The Damavand project is planned to process 610 mcm of natural gas annually fed by produced gas from the new phases of the South Pars joint oil field, Mehr news agency reported.
Iran and Qatar have shares in the South Pars gas field. The Iranian share which is divided into 29 phases, accounts for about 14 trillion cubic metres of gas, or about eight per cent of the total world reserves and more than 18 billion barrels of liquefied natural gas resources.