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Head of Iran's National Petrochemical Company (NPC) Marziyeh Shahdaie said the country’s biggest petrochemical plan would be launched by the end of the current Iranian calendar year (which ends on March 20, 2017).
"The ethylene pipeline of western Iran is going to be accomplished and launched by the end of this year,” she told a press conference.She continued that the pipeline has been completely implemented, however, implementation of the project in certain splits will be finalized by the year end.
The pipeline is stretched from Asaluyeh (southern Iran) to Miandoab and Mahabad (northwestern Iran).
The project has cost $322 million so far and the required investment would be made until it is accomplished, Shahdaie said.
She noted that Iran needs $55 billion investment to implement and accomplish petrochemical plans, adding, "Therefore we have to use foreign investor and financing.”
Shahdaie further noted that Iran has managed to obtain know-how for producing propylene from methanol for the first time.
According to the Iranian official, commercializing the plan is going to be implemented through foreign investor and Iran's National Petrochemical Company.
She further noted that Iran is producing 22 percent and 2.3 percent of petrochemicals respectively in the region and the world.
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