Fereydoun Hassanvand, who also presides over the parliament’s energy committee, said on Thursday that the sanctions were an unfair means for bringing Iran’s oil exports to zero which failed.

“Today, initiation of this project is an indication of the failure of US sanctions policies,” said the MP, addressing a ceremony to break the ground for the project.

“Today, we are both exporting our oil and investing in the industry,” the MP said.

 A ceremony was held in the city in the presence of Iranian Minister of Petroleum Bijan Zangeneh and a number of parliament members and local officials to break the grounds for starting the construction project of the plant.

The 300,000-ton/year plant would pave the way for construction of downstream projects.

Over the past 6 years and thanks to completion of several South Pars phases, there is an abundance of ethane and ethylene production capacity in the country which could be consumed by petrochemical plants.

Andimeshk Petrochemical Project will be completed in a matter of 36 months and will be fed by ethylene that is produced at South Pars gas field, the world’s largest natural gas field located in Persian Gulf waters and shared with Qatar.

Ethxylates, glycol ether and ethanol-amine are to be produced at the plant, and the items would be used as feedstock for hygiene items, detergents, and additives in textile, cement, gas sweetening, refining and petrochemical industries.

The facility is to be developed for production of 200,000 tons per year of items in Assaluyeh, southern Iran.

An investment of 388 million dollars is expected to be needed for completion of the project.