Baku, Azerbaijan, April 14
By Elnur Baghishov – Trend:
So far, 2 trillion rials (about $47 million) have been invested in the construction of the Miyandab petrochemical plant in Iran’s West Azerbaijan province, executive director of the petrochemical plant Ahad Mahdavi said.
In general, 3.4 trillion rials (about $80.9 million) will be spent for the construction of the plant, Mahdavi added, Trend reports referring to IRNA.
He added that about 28 million euros of 49 million euros were invested.
Investments have been made by shareholders. No state currency or state reserves were used, he said.
Mahdavi said that this plant will be commissioned in the second half of the year (started on March 21, 2019).
The Miyandab Petrochemical Plant is a plant founded in 2004 together with the Mahabad Petrochemical Plant.
Some 175,000 tons of polyethylene are expected to be produced at this plant per year.