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Gachsaran Polymer Project Gains Momentum with Special Funding

Gachsaran Polymer Project Gains Momentum with Special Funding
(Monday, December 4, 2023) 21:27

TEHRAN (NIPNA) -- The CEO of Gachsaran Polymer Industries has announced significant strides in the execution of the Gachsaran Polymer Project, identifying it as a priority initiative within the Persian Gulf Petrochemical Industries Company (PGPIC). The provision of specialized financial resources, both in Rial and hard currency, has been highlighted to expedite the progress of this venture.

According to the Public Relations Office of Gachsaran Polymer Industries, Seyyed Mohammad Hossein Jazayeri-Mousavi emphasized the strategy to hasten ongoing projects within the Persian Gulf Holding, stating, "Aligned with this strategy and the dedicated attention from the Deputy for Planning and Business Development of the group toward this project, we have committed ourselves to shorten the project timeline from the initially set period in the second half of 1404 (2025)."

Highlighting an overall progress of 24.51% and a substantial 66.67% advancement in the engineering section, he added, "The Gachsaran Polymer Ethylene project, with an investment exceeding 200 million euros, is currently underway. We have primarily focused on domestic manufacturing in the procurement and construction of project equipment, with over 70% of the equipment to be localized, leveraging the expertise and capabilities of Iranian professionals."

Continuing further, Jazayeri-Mousavi stated, "To date, orders totaling over five million euros have been placed in foreign currencies for equipment that currently lacks domestic production capacity. Specialized financial provisions, both in Rial and hard currency, have been secured through diligent efforts, aiming to significantly contribute to the project's advancement."

He underscored the anticipated employment prospects, stating, "Upon operationalization, we anticipate the creation of 250 direct jobs and over 600 indirect employment opportunities. With the expeditious launch of this project and collaboration among Gulf Holdings, the Central Bank, and the Ministry of Industry, Mine, and Trade, we aspire to witness Gachsaran Polymer Industries playing a substantial role in the sustainable economic development of the Gachsaran region."

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