BAKU, Azerbaijan, June 8
By Elnur Baghishov – Trend:
A plant of Kimia Pars Middle East Petrochemical Company in Bushehr Province (southern Iran) has been commissioned, Trend reports citing the Petrofarhang Company’s official website.
According to report, the plant, which is subordinated to Petrofarhang Company, will produce 1.65 million tons of methanol a year.
“The Kimia Pars Middle East Petrochemical Company was built at a cost of 2.8 billion yuan ($395 million) and 10 trillion rials ($238 million) on 8,000 hectares in the Bushehr Special Economic Zone,” report said.
Petrofarhang is one of the subsidiary companies of Teachers Investment Fund (TIF), an economic institution founded initially in association with more than 750,000 teachers. Teacher`s contributions are set at about 5 percent of their monthly salary and an equivalent government budget is paid for TIF annually.