The project is among the highly prioritized petrochemical projects in Iran which is being developed for production of 300,000 tons of low-density granule polyethylene.
Once completed the plant's polyethylene will be fed to the nearby plants for production of petrochemical stuff.
More than 253 million Euros has been invested for completion of the project as foreign exchange besides an additional amount of IRR 2,829b.
The latest European equipment has been installed at the plant; however, the project is being developed with more than 50% of its equipment being supplied by domestic manufacturers.
The plant is expected to be fed by ethylene supplied by West Ethylene Pipeline.
Iran produced 40 million tons of petrochemical products in the last calendar year, with $9 billion gained from exports. Iran predicts to earn around $12 billion from petrochemical exports this calendar year.
Iran is determined to become the leading producer of petrochemicals in the Middle East.
The country has significantly expanded the range and volume of its petrochemical production over the past few years, and the NPC has become the second largest producer and exporter of petrochemicals in the Middle East after Saudi Arabia.
Currently 62 major petrochemical projects with various levels of physical progress from 1 to 98 percent are in need of investments for completion.
Delayed projects have been classified based on their physical progress of which 15 projects with more than 60 percent physical progress have been classified as prioritized projects for investment and completion.
More than 95% of the petrochemical output of Iran's plants are being consumed in 4 major production units in Iran currently.
Iran's western province of Kurdistan enjoys magnificent potentialities for expansion of polymer technologies provided that enough investments are done in the region.