News ID: 280246
Published: 0315 GMT February 02, 2021

Iran seeking development of petchem industry in Makran region

Iran seeking development of petchem industry in Makran region

The National Petrochemical Company (NPC) is seeking to complete the value-chain in the downstream petrochemical sector in Makran coasts, turning the region into a new petrochemical hub, the company’s CEO Behzad Mohammadi said.

“Due to the strategic position of Makran, development of the petrochemical industry in this region and creating a petrochemical hub would be a smart move,” Mohammadi said on the sidelines of a visit to the southeastern region on Monday, Shana reported.

Iran’s coastal strip of Makran along the Persian Gulf and the Gulf of Oman enjoys the potentials to be the country’s new economic and industrial hub, especially in terms of launching petrochemical and steel complexes.

Lying near the country’s massive gas resources which can be used as feedstock to petrochemical complexes, the stretch has great potentials for the development of the country’s petrochemical industry.

Mohammadi noted that NPC is ready to cooperate in various fields in order to remove obstacles and problems and to facilitate and accelerate the implementation of projects in Makran region

NPC has been providing the necessary infrastructure on Makran coasts to develop the region into Iran’s new hub of the petrochemical industry. It can bring employment in the region and also turn Chabahar, which is the country’s only oceanic port, into an important trade and industrial port of Iran.

The petrochemical industry plays a crucial role in Iran’s non-oil economy, as the petrochemical export is the second-largest source of revenue for the country after crude oil. Petrochemical exports already constitute nearly 33 percent of the country’s non-oil exports.

According to Iranian Oil Minister Bijan Namdar Zanganeh, the country is currently producing nearly 70 million tons of petrochemical products annually.

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