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$25 Billion Investment Planned for Makran Region

$25 Billion Investment Planned for Makran Region
(Monday, August 5, 2024) 00:58

TEHRAN (NIPNA) -- The CEO of Negin Makran Petrochemical Development Company announced plans to increase total investment in the Makran region from the current $9 billion to $25 billion.

He stated that the goal is to bring two methanol units online next year, utilizing the region's petrochemical infrastructure.

In a specialized session on the future of the petrochemical industry during the 15th Iran Petrochemical Forum (IPF), Alireza Moniri Abiyaneh noted that over 60 years have passed since the inception of the petrochemical industry in Iran, leading to the establishment and development of major petrochemical hubs in Mahshahr and Assaluyeh.

He remarked that when the general public hears the name Assaluyeh, they associate it with petrochemicals, lit flares, and air pollution.

Moniri Abiyaneh emphasized that social issues must be considered when creating and expanding petrochemical development zones, as it is crucial to determine whether the region will serve as a station, workshop, or habitat.

He added that eight technical appendices have been incorporated into the establishment of the third petrochemical hub in the Makran region, with comprehensive programs implemented from the project's inception.

The CEO highlighted that infrastructure development aligns with social responsibility, stating that equal attention has been given to seawater desalination for both industrial and potable purposes in the region.

Additionally, he pointed out that the focus has been on providing excess energy for injection into the national electricity grid and developing renewable energy sources.

Moniri Abiyaneh asserted that the initiatives undertaken by the Negin Makran Petrochemical Development Company are environmentally sustainable, employing modern technologies. All aspects of the third petrochemical hub in Iran have obtained environmental permits from the Department of Environment, indicating that environmental concerns have been prioritized from the start.

He reported that there are 20 projects underway, including carbon management and the first underwater micro-tunneling water extraction initiative.

The CEO further noted that utilizing renewable energy, recycling water, and implementing Zero Liquid Discharge (ZLD) projects are all aligned with environmental conservation efforts.

He stated that the completion of the value chain within the Makran petrochemical complex has been comprehensively planned, with six petrochemical projects and 22 smaller petrochemical units to be established in the region.

Moniri Abiyaneh emphasized that a special focus has been placed on spatial planning in the construction of the third petrochemical hub, particularly considering the blue economy in light of the hub's strategic location.

Currently, there is an estimated $8 to $9 billion of investment ongoing in the Makran region, with expectations for this amount to rise to $25 billion.

He indicated that the infrastructure for petrochemicals in the region is scheduled to be operational this year, with plans for two methanol units to come online next year, thereby completing the associated value chain.

Currently, 5,000 individuals are employed in the Makran region, with the development of this hub expected to create direct employment for 20,000 more.

Moniri Abiyaneh also announced the establishment of a skills development center in the Makran region, aimed at providing training to local residents to maximize the employment of local workforce. Currently, nearly 50% of the workforce in Iran's third petrochemical hub consists of local residents.

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