Iran’s Petrochemical Development Company head announces USD10.2B invested in Chabahar
Date
1/14/2025 7:06:25 AM
(MENAFN) The head of Negin Makran Petrochemical Development Company announced that around €10 billion (USD10.2 billion) has been invested in the third petrochemical hub at Negin Makran in Chabahar. This investment will be used to build petrochemical complexes and complete the methane gas value chain, with plans to end raw petrochemical exports once the hub’s phases are finished.
Alireza Moniri Abyaneh shared in an interview with IRNA that the Makran Petrochemical Complex includes six major projects and 22 downstream petrochemical units. The plan is to have utilities like water, electricity, steam, and other services, along with two petrochemical units, operational by the summer of 2025.
Moniri Abyaneh emphasized the importance of the expertise gained from developing the third petrochemical hub. He pointed out that Iran’s petrochemical industry has now been in existence for 63 years, with the first two hubs in Mahshahr and Asaluyeh having been established by the government.
He also highlighted a key achievement of the Makran Petrochemical Complex: the employment of local workers. More than 5,000 people work at the complex, with over half of them coming from the local community. The development of this complex began in response to a directive from the Leader of the Islamic Revolution to develop the Makran coastline, and it is the first instance where private-sector entities led the development of a petrochemical zone in a free trade area.
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