31 May 2016 - 11:16
  • News Code: 261961
Iran Makes Biggest Investment in Kurdish Region

TEHRAN, May 31 (Shana) – Iran has bankrolled $800m for development of Sanandaj and Mahabad petrochemical plants, both located in the country's Kurdish regions, creating the country's biggest state investment in the region's history.

Development of Kurdish regions is the message of Iranian President Hassan Rouhani's visit to the north western city of Mahabad for launching a petrochemical plant in the region, Iranian Minister of Petroleum Bijan Zangeneh told Shana on Tuesday.

He said the plant has been financed by state funds in an unprecedented move by the Iranian administration to fund an industrial unit in such a magnitude.

The official said development of Mahabad petrochemical plant was considered as a chief plan by the Iranian Ministry of Petroleum ever since it envisaged construction of West Ethylene Pipeline project. 

West Ethylene Pipeline's design and construction was put forth by the ministry in 2002 under the administration of reform, he added, saying that the project is aimed at developing petrochemical industries in Kurdish regions in western Iran. 

Sanandaj Petrochemical Plant is operational and will be officially inaugurated within a few months, Zangeneh added. 

 

Mahabad and Sanandaj plants can process 330,000 tons of polyethylene and butane annually.

News Code 261961

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