Iran Mulls Developing 3rd Petchem Hub in Western Territories: Minister

TEHRAN, May 31 (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said Iran has put forth several major petrochemical projects in its western regions which will turn the country's west into Iran's third petrochemical hub.

"Regarding the projects defined in the western regions of the country and given their proximity to Iraq and Turkey, Iran's west will become an unparalleled region for development of downstream petrochemical industries," said Zangeneh, addressing the opening ceremony of Mahabad Petrochemical Plant in the northwestern province of West Azarbaijan on Tuesday.

He said after Assalouyeh and Bandar Emem regions, Iran's west can become the third petrochemical hub for the country with a capacity of producing 1.5 million tons per year of petrochemicals that will be out in the market by the end of the 6th five-year development plan to 2021. 

"Given the lack of petrochemical plants in eastern Turkey, Iraq's Kurdistan region and Iraq, Iran will be able to supply the regions with petrochemicals once the West Ethylene Pipeline project is fully operational," he said.

The senior Iranian energy official further added that Iran will launch 10 more petrochemical projects by the end of the current Iranian calendar year to March 20 2017 which will turn the country into a player in the petrochemical market.

He said the Iranian Ministry of Petroleum is considering formation of a petrochemical complex in the vicinity of Mahabad once West Ethylene Pipeline project is fully online in order to complete the value chain the region.
News Code 262018

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