News Agency - Detail

Petchem Projects Worth $3.5 Billion Operationalized Under President Raisi

Petchem Projects Worth $3.5 Billion Operationalized Under President Raisi
(Saturday, June 15, 2024) 16:16

TEHRAN (NIPNA) -- The petrochemical industry has reached a significant milestone under the 13th administration , run by Martyr President Raisi, with the operationalization of 17 projects valued at approximately $3.5 billion and the initiation of 14 new projects.

The oil industry, as a strategic asset of the country, serves as a robust support for the national economy and a powerful tool for achieving sustainable development. Realizing this role hinges on developing the value chain based on activating downstream industries reliant on petrochemicals. The development of these industries creates added value, generates foreign exchange, provides employment, reduces poverty, and completes the supply chain of various industries.

Given the challenges faced by the country in recent years, such as the need for job creation, fluctuations in oil prices, and especially the unjust sanctions against Iran, greater attention must be paid to the production and conversion of petrochemical products, particularly the development of downstream oil and complementary industries that have high added value.

Despite these challenges, the petrochemical industry's development has not only continued but has also adapted to the domestic market needs and global trends. The 13th administration has notably focused on completing semi-finished projects and expanding the value chain to achieve a production leap.

Upon the commencement of the 13th administration in 2021, 50 petrochemical projects were active in the country. After three years, 127 projects are currently underway: 22 in Mahshahr, 24 in Assaluyeh, 53 in other regions, 13 in Kangan, Deyr, and Siraf, 4 in Makran, and 11 in Parsian Energy Intensive Region.

 Overview of Key Projects (2021-2024)


- Petrokimia Ibn Sina Maleic Anhydride Plant: Commissioned in February 2021, this project prevents the raw sale of butane by processing 80,000 tons annually in the Mahshahr Special Economic Petrochemical Zone.


- De Aria Polymer Plant in Khomein: Launched in summer 2022, this plant produces 175,000 tons annually, covering 17% of the country's polypropylene needs.

- Parsian Sepehr Refinery's PDH/PP Project: Initiated in September 2022, this project aims to produce 450,000 tons of propylene annually.

- Various Downstream Projects: Four projects focused on knowledge-based and resilient economy were inaugurated in the Mahshahr Special Economic Petrochemical Zone.

- Petroalfen Technology Plant: Construction started in fall 2022 to produce various polyethylene and polypropylene products.


- Gas to Products Plant (GTX): Initiated in late 2022 in Chabahar, this project focuses on producing value-added downstream methanol products.

- Pars Glycol Plant: Opened in March 2023, producing over 550,000 tons of ethylene glycol annually.

- Hozeh Gas Refinery Phase One: Commissioned in May 2023 with a daily capacity of 250 million cubic feet of associated gas.


- Completion of Nine Projects: Including Arta Energy, Aryan Methanol, Hengam Petrochemical, and others, with a total investment of $1.2 billion set for completion and operationalization.

These developments underscore the administration 's commitment to advancing the petrochemical sector, boosting production, and enhancing export capabilities.

Email is required
Characters left: 500
Comment is required