Davood Reza Rabbani, the CEO of Bakhtar Holding Company, told a ceremony to launch Miandoab Petrochemical Plant on Thursday that all of the holding’s assets were spent on developing the petrochemical industry.

He said Miandoab Petrochemical Plant was built by tapping the company's local resources.

According to him, currently, there were 8,000 people employed in the companies governed by the holding, which would increase to 16,500 people by launching new projects.

Miandoab Petrochemical Plant’s construction began in 2016 with 140,000 tons of annual production capacity and came online last week.

Bakhtar Holding Company accounts for 10% of the country’s petrochemical export revenues which is expected to reach 15% next calendar year, Mr. Rabbani added.

He further said that the plant would operate with locally-made catalysts for the first time in the country.

Goreh-Jusk Oil Pipeline: Most Strategic Project under Rouhani

Iranian Minister of Petroleum Bijan Zangeneh said in the ceremony that Goreh-Just Oil Pipeline Project was the most strategic project in the Rouhani administration which would turn Makran region as the second oil export hub in Iran.

He said a total of $300 million had so far been invested in the project while another $800 to 850 million was needed for its full operation.

“We hope that exports from Jusk will begin as the government's most strategic project by the end of this [calendar] year,” Mr. Zangeneh went on to add.

Normal Hexane Self-sufficiency

Another project that Iranian President Hassan Rouhani launched on Thursday was the normal hexane unit of Miandoab Petrochemical Plant which would render Iran self-sufficient in production of the item.

The project saves the country $45 million annually, said Gholamhossein Ramezanpour, the CEO of Imam Khomeini (Shazand) Refinery, addressing the ceremony.

He said the project had been implemented with the initiative and innovation of domestic experts and only by tapping potentialities and changing operational processes without any initial investment.

The project is now fully operational and has reached a full daily production of 190,000 liters of normal hexane.

The unit will supply 50,000 tons of the item annually of which 30,000 tons would be consumed domestically in food and petrochemical industries.

Annual production of 50,000 tons of normal hexane, daily production of 500,000 liters of clean petrol and increasing the quality of petrol produced at Imam Khomeini (Shazand) Refinery while reducing energy consumption in the facility, and annual savings of up to 45 million dollars per year were envisaged in construction of the plant.