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Iran plans to create new petrochemical complex

24 December 2018 17:50 (UTC+04:00)
Iran plans to create new petrochemical complex

By Abdul Kerimkhanov

Iran plans to create a new petrochemical complex in the province of Hormozgan, adjacent to the waters of the Persian Gulf, reports IRNA with reference to the official in petrochemical complex.

As Behzad Mohammadi, Managing Director of the National Petrochemical Company (NPC) said, a new petrochemical complex will be built in the Parsian Energy Intensive Industrial Special Economic Zone (PEISEZ).

He stressed that given the existing technical infrastructure, such as proximity to the airport, the Persian Gulf, the Assalouye region and raw materials, Parsian could become a new center of the country's petrochemical industry.

Access to a variety of liquid and gas raw materials is one of the main attractions of the petrochemical industry of Iran for investors. No doubt that this industry is the most profitable industry of Iran.

PEISEZ, with an area of 9,800 hectares, is located 15 km west of the city of Parsian in the province of Hormozgan, 20 km from the international airport "Persian Gulf International Airport" and 43 km from the port of Pars.

This region is one of the main poles of development in the country, which allows you to create various energy-intensive industries due to its economic, environmental and geographical position.

Iran's petrochemical industry has more than half a century. The National Petrochemical Company began work in Iran under the state leadership of the National Oil Company of Iran in 1963. The first project of the company was based on the production of chemical fertilizer in the city of Shiraz in the south-east of the country.

Petrochemical products make up the largest volume in the statistical tablet of the export of non-oil products of Iran, it is more than 40 percent of the total non-oil export of the country. Iran exports its petrochemical products to several dozen countries in different parts of the world. As many as 13 percent of products are exported to the Indian subcontinent, 23 percent to the countries of Southeast Asia, 22 percent to China, 18 percent to the countries of the Far East, 5 percent to Europe and 19 percent to the Middle East.

In recent years, a variety of Iran’s petrochemical products has led other branches of the Iranian economy to continue their activities despite the problems caused by the U.S. sanctions. Despite the sanctions imposed against the export of Iranian oil, and consistently, the decline in oil exports, they did not affect the export of petrochemical products.

The most important feature of the Iranian petrochemical industry is the presence in the country of rich oil and gas resources to provide the necessary raw materials from the petrochemical industry. Iran ranks 4th in the world in terms of oil resources and uses the second largest gas reserves in the world.

Iran is the only state in the Middle East that produces a large amount of necessary equipment for the petrochemical industry on its territory. In addition to some types of high-tech equipment, Iran is able to produce most types of equipment on its territory. The presence of young educated experts, as well as innovative companies, speaks of the bright future of the petrochemical industry in Iran.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94

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