On Monday, June 24, 2024, 11:59 AM, 17 significant oil industry
projects, with an investment of 1.8 quadrillion rials ($4.26 billion), were
officially launched in seven provinces. The inauguration ceremony was attended
by Mohammad Mokhber, Acting President; Javad Owji, Minister of Petroleum; and
Morteza Shahmirzaei, Deputy Minister of Petroleum and CEO of the National
Petrochemical Company.
The projects, aligned with the government's strategy to complete the
petrochemical value chain, represent one of the Thirteenth Administration's
primary industry priorities. The six new petrochemical projects, with a
combined capacity of 3 million tons, have commenced operations as part of this
initiative.
The new ventures include:
- Hengam Petrochemical Complex in Bushehr Province, with an annual
production capacity of 725,000 tons of ammonia and an investment of $328
million.
- Damavand Petrochemical Company's Fourth Air Unit in Bushehr
Province, with a capacity of 814,000 tons per year and an investment of $82
million.
- Bu Ali Sina Petrochemical Company in Khuzestan Province, with the
reconstruction of a xylene unit to a capacity of 40,000 tons per year and an
investment of $40 million.
- Nakhl-e Asmari Petrochemical in Khuzestan Province, aimed at
producing 31,000 tons of petrochemical products annually with an investment of
$43 million.
- Aryan Methanol Petrochemical in Bushehr Province, designed to
produce 1.65 million tons of methanol per year, with an investment of $243
million.
These developments are part of Iran's broader efforts to maximize the
petrochemical industry's potential, creating significant value and reinforcing
its critical role within the national oil sector.