Addressing a ceremony to officially inaugurate 3 major petrochemical projects via video conference on Thursday morning, Zangeneh said plans were under way to triple the sector’s production capacity by 2025 from 2013 levels.

Bijan Zangeneh said today two important methanol projects and a technological project for catalyst production would be put into operation.

By the end of the year, he said, 13 other projects will also be put into operation, which would increase the country's petrochemical production capacity by 25 million tons per year.

He added: "One of the most important tasks of the petrochemical industry is to prevent the sale of raw materials by completing the value chain in the oil and gas industry, as well as supplying downstream feedstock for the domestic industries, while preventing more than $5 billion in foreign currency from leaving the country annually."

He said in the period between 2013 and 2019, 18 petrochemical projects came on stream in Iran.

He continued, “With the operation of 27 other petrochemical projects by 1400 (March 21, 2021) and with an investment of 17 billion dollars, the total value of petrochemical products will reach 25 billion dollars per year and by the end of 1403 (March 21 2024) and completion of the third leap their value will reach 37 billion dollars.”

Kimia Pars Middle Ear Petrochemical Project

Kimia Pars Middle East Petrochemical Plant has been launched with a production capacity of 1.650 million tons of methanol annually.

Kimia Pars Middle East Petrochemical Project, whose construction began 4 years ago and went as scheduled, was officially inaugurated today (Thursday, August 6) ​with a direct order by Iranian President Hassan Rouhani.

It receives 4.5 million cubic meters of natural gas per day, and is planned to generate $300 million annually by exporting its output.

50% of the total investment made in Kimia Pars Middle East plant, from engineering, consulting to construction and installation of equipment, has produced domestically, and this company has created employment for 700 people at the time of operation.

This complex, which is one of the subsidiaries of Petrofarhang Holding Company, has been implemented in the second phase of Assaluyeh Special Petrochemical Economic Zone with an investment of about $600 million on a land area of ​​about 8 hectares. Denmark’s’ Haldor Topsoe has licensed the project.

Lorestan Petrochemical Catalyst Unit

Lorestan Petrochemical Catalyst Production Unit with Iranian technical knowledge and an annual capacity of 100 tons of catalysts was put into operation by the order of the President, too.

The plant is built for producing the catalyst needed to produce polyethylene with the technical knowledge of the Petrochemical Research and Technology Company (PRTC).

Lorestan Petrochemical Catalyst Unit was built with an investment of $20 million by Bakhtar Holding Company at Lorestan Petrochemical Plant. It will generate about $30 million annually for the country.

100% of engineering, construction and installation and 70% of equipment supply of Lorestan Petrochemical Catalyst Unit is Iranian and this unit has caused direct employment of 60 people.

Kaveh Petrochemical Plant: Largest Methanol Production Complex in the World

Kaveh Petrochemical Plant, as the largest methanol producer complex in the world, with a daily production of 7,000 tons, was officially put into operation by the direct order of the President.

Kaveh Petrochemical Complex has been implemented with a private sector investment of $950 million and with a daily intake of 6 million cubic meters of natural gas.

It has a daily production capacity of 7,000 tons and 2.3 million tons of AA grade methanol per year.

Utility and a dedicated export jetty are among the benefits of Kaveh methanol plant, and the complex is expected to generate $400 million annually for the country.

Kaveh Methanol Petrochemical Complex has been constructed on a 220-hectare land on the west coast of Dayer county of Bushehr province, located in North Pars, and 66% of the total investment of this project has been used from engineering and construction to providing equipment from domestic manufacturers.