Iran Plans to Invest $40b in Makran

Iran Plans to Invest $40b in Makran
(Friday, April 1, 2022) 23:27

TEHRAN (NIPNA) – The Deputy Minister of Petroleum for Petrochemical Affairs said plans are under way to invest 40 billion dollars in Makran region to develop petrochemical projects.

Morteza Shahmirzaei said the amount would be spent to develop downstream and upstream petrochemical projects in the region.

Speaking with Fars News Agency, Shamirzaei, who is also the CEO of the National Petrochemical Company (NPC), said the company’s policy is preserving the national interests in the petrochemical industry, adding the Iranian Ministry of Petroleum and the administration emphasize on the development national projects no matter when they had started.

“The first petrochemical hub of Iran was established in Mahshahr as a special petrochemical economic zone. Then Pars Energy Special Economic Zone in Assaluyeh was put on the development agenda. Due to the limited capacity of this region for further development of the petrochemical industry, we must study and work on other regions to establish new petrochemical hubs,” he added.

The Makran region is currently under study to establish petroleum refineries, petrochemical plants and chemical parks. Makran region is a pristine region with good access to high seas, which also has a suitable manpower. Geographically, the region is one of the most promising areas, with more than $40 billion expected to be invested in the upstream and downstream petrochemical sectors in the coming decades, the official went on to add.


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