(MENAFN)The projects for constructing two major petrochemical complexes valued at over USD7 billion will be started by the end of the current Iranian year, according to the Managing Director of Iran’s Persian Gulf Petrochemical Industries Company (PGPIC).
Jafar Rabiei stated that “Preparations have been carried out by Persian Gulf Petrochemical Industries Company for the ground-breaking of the projects for construction of Hormoz and Mahshahr petrochemical complexes in Assaluyeh and Mahshahr.”
He further said that the USD4.5-billion Hormoz project will receive a combination of ethane and butane feed that will be provided from South Pars field, adding: “The necessary licenses have been obtained from the Oil Ministry and hopefully the project will be commenced by the end of the year.”
The feedstock for Mahshahr Petrochemical Complex will be provided from Persian Gulf Bid Boland Refinery surplus feed, he added.
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