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Tuesday, 23 October 2018 17:00

Petrochem plants worth $8.5b under implementation

Petrochem plants worth $8.5b under implementation

Several petrochemical projects are being implemented at a cost of about $8.5 billion by the Persian Gulf Petrochemical Industries Company (PGPIC), the company's managing director Jafar Rabiei announced on Sunday.

According to Jafar Rabiei, $4 billion have been invested on developing Bid Boland, Ilam and Lordegan plants, which will become operational next year, Caspian Energy News (www.caspianenergy.net) reports with reference to Iran Daily.

The company will mainly invest in Bid Boland Gas Refinery project as well as plants in Ilam, Asalouyeh, Lordegan and Dehdasht, all located in the western and central southern regions, he noted.

Most of Iran's petrochemical infrastructures are in southern regions close to the Persian Gulf where water supply is less of a concern and its proximity to international waters makes transport and shipment more cost-effective.

PGPIC is Iran's largest petrochemical company with over 60 subsidiaries with a share of more than 11 percent in Iran's capital market. Its exports are estimated at $8-9 billion per year.

Rabiei said the export of petrochemical products is one of the main sources of hard currency revenues for the country.

"PGPIC has channeled $2.45 billion of its export earnings into the market," he added.

Underscoring the importance of the petrochemicals among Iran's non-oil exports, Rabiei said, "Iran earns $47 billion annually from the export of non-oil goods, of which $12 billion is from the sales of petrochemicals."

More details: http://www.iran-daily.com/News/233114.html

Person in charge of the newsline: Olga Nagiyeva 

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