Iran launched three major petrochemical projects on Thursday
with a total investment of 1 billion dollars.
Addressing a ceremony to inaugurate the projects, Mr.
Zangeneh said: “Today is a celebration of prosperity and leap of production for
He stated that the total value of the three projects of
olefin and SRU units of Ilam Petrochemical Plant, Hegmataneh Petrochemical Project
and the potassium sulfate unit of Urmia Petrochemical Plant is close to one
He said: "All these projects are in western provinces of
the country and today is a celebration of prosperity and production leap for
Mr. Zangeneh noted that Iran’s petrochemical revenue in 1997
was merely $2 billion per year which reached $11b by 2013 and is planned to
cross $25b by 2021. Furthermore, plans are underway to bring the sector’s
revenue to $37 billion by 2026.
The Minister of Petroleum stated that 17 petrochemical
projects with an investment of 11.4 billion dollars and a capacity of 25
million tons per year will be put into operation this calendar year (which
began on March 21).