USD10.7B investment in Chabahar's third petrochemical hub to boost local economy, industry

(MENAFN) The head of Negin Makran Petrochemical Development Company announced a significant €10 billion (approximately USD10.7 billion) investment in the development of the third petrochemical hub in Negin Makran, Chabahar. This investment aims to establish petrochemical complexes and fully integrate the methane gas value chain, with the goal of eliminating raw petrochemical exports once the hub's various phases are completed.

Alireza Moniri Abyaneh, in an interview with IRNA on Tuesday, revealed that the Makran Petrochemical Complex will include six major projects and 22 downstream petrochemical units. The first utilities, including water, electricity, steam, and auxiliary services, along with two petrochemical units, are set to be operational by the summer of 2025.

Moniri Abyaneh emphasized that the expertise developed within this hub represents a significant asset for the country, marking a milestone in Iran's petrochemical industry, which is now 63 years old. The country’s first two hubs in Mahshahr and Asaluyeh were government-established.

He also highlighted the complex's success in employing local workers, with more than 50 percent of the workforce of over 5,000 people recruited from the surrounding community.

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