Javad Owji, who paid a one-day visit to the southwestern province of Khuzestan on Tuesday to inaugurate several projects, added the contracts worth $14 billion will lead to increase in production, exports, revenues, and job opportunities.

Touching upon the Ibn Sina petrochemical project in Andimeshk, Khuzestan Province, the minister said the project, which had been left undecided for 14 years, will be implemented in 36 months according to a pledge made by Persian Gulf Petrochemical Industries Company (PGPIC) Managing Director Abdolali Ali-Askari.

Ethylene oxide, a key product, will be among the products of Ibn Sina Petrochemical Company, said Owji, underlining that the country will no longer import it when the project becomes operational.

According to him, $300 million will be invested to carry out the petrochemical project’s executive operations.

Owji mentioned that the completion of the project’s product chain is on the agenda.