Akbar Eftekhari, addressing a virtual meeting with the Iranian President on Thursday, May 20, said that the project is located in the north of Khuzestan province, southwestern Iran, which is one of the most deprived areas of the province.

He pointed to the production of 1.076 million tons of urea in Masjed Soleiman Petrochemical Plant, and added the export contract for 500,000 tons of the company's products has been finalized and the export of this product will start in the next one or two weeks.

A total of $850 million was invested in the project which is expected to generate $268 million in hard currency annually.