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Rouhani Launches $1.6b Petchem Projects

Rouhani Launches $1.6b Petchem Projects
(Wednesday, August 26, 2020) 10:55

TEHRAN (NIPNA) – Iranian President Hassan Rouhani inaugurated three major petrochemical projects valued at a total of $1.6 billion.

Addressing a ceremony to launch the projects, Dr. Rouhani said commissioning of the projects was a valuable step in the path to development and progress of the country, adding: “The process of inaugurating huge national, development, production and infrastructure projects in the country, despite the difficult conditions imposed by the enemies, continues rapidly.”

Speaking on Thursday, Hojjatoleslam Hassan Rouhani at the ceremony of exploiting Kaveh methanol, Pars Kimia Middle East in Bushehr province and catalyst production project in Lorestan province, said: “Today, knowledge-based firms are active in all the fields, and the result of these efforts is to make the country self-sufficient in many of these fields.”

"We have always said that we want to distance ourselves from export of crude oil and export it after it becomes a valuable product," the president said. "We are witnessing a great change in the petrochemical industry.”

He also noted the opening of 17 petrochemical projects in the country by the end of the current Iranian calendar year to March 20, 2021, adding, “Simultaneously with the second leap in the petrochemical industry, the necessary investments have been made for the third petrochemical leap by 2025, which can bring the total value of products in this sector to 37. Billion dollars, which will be a big change in the country.”

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