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Gachsaran Polymer Project Gains Momentum with Dedicated Financial Resources

Gachsaran Polymer Project Gains Momentum with Dedicated Financial Resources
(Sunday, December 3, 2023) 14:50

GACHSARAN (NIPNA) - The CEO of Gachsaran Polymer Industries announced the acceleration of the Gachsaran Polymer project, designated as a priority project for the Persian Gulf Holding Group, through the allocation of dedicated financial resources in Rials and hard currency to expedite its execution.

According to the public relations office of Gachsaran Polymer Industries, Seyyed Mohammad Hossein Jazayeri-Mousavi highlighted the project's definition as a priority within the Persian Gulf Holding Group. "Based on the strategic direction and specific attention given by the Group's Business Development and Planning Deputy, we are determined to shorten the project timeline from the initially set date of the second half of 2025 through comprehensive efforts and utilization of available resources," stated Jazayeri-Mousavi.

He revealed a cumulative progress of 24.51% and an engineering advancement of 66.67%, adding, "The heavy polyethylene project of Gachsaran Polymer Industries, with an investment exceeding 200 million euros, is currently underway. We've emphasized domestic production in the procurement and manufacturing of project equipment, targeting over 70% localization of equipment, relying on the expertise and capabilities of Iranian specialists."

Jazayeri-Mousavi continued, "Orders worth over five million euros have been placed for foreign currency purchases in equipment that currently lacks domestic production capacity. Dedicated financial resources, both in Rials and hard currency, have been secured through ongoing negotiations, which are anticipated to significantly contribute to the project's progression."

He highlighted the expected employment generation, stating, "It is anticipated that upon operationalization, 250 direct jobs and over 600 indirect employment opportunities will be created. With the rapid launch of this project and collaboration between the Persian Gulf Holding Group, the Central Bank, and the Ministry of Industry, Mine, and Trade, we aim to witness Gachsaran Polymer Industries play a pivotal role in the sustainable economic development of the Gachsaran region."

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