BAKU, Azerbaijan, June 25
By Elnur Baghishov – Trend:
Miandoab petrochemical plant in Miandoab county of West Azerbaijan Province (northwestern Iran) has been put into operation on June 25, Trend reports citing IRINN.
The opening ceremony of the Miandoab petrochemical plant was attended by Iranian President Hassan Rouhani, Oil Minister Bijan Zanganeh and Deputy Oil Minister, Executive Director of Iran’s National Petrochemical Company Behzad Mohammadi via videoconference.
About 40 million euros and 120 million dollars were spent on the construction of the plant. The shareholders of Miandoab petrochemical plant are Bakhtar Petrochemical Company (70 percent) and Pushineh Methanol Company (30 percent).
The plant will produce 140,000 tons of polyethylene a year. Once domestic demand is met, part of the production will be exported by Bakhtar Petrochemical Company, said the report.
More than 400 people were provided with jobs at the plant.
Bakhtar Petrochemical Company purchased the equipment of the plant under the license of Mitsui Company of Japan.
Iran produced 31 million tons of final petrochemicals in the last Iranian year (from March 21, 2019 to March 20, 2020). Of these, eight million tons were sold within the country, and 23 million tons of products were exported. The total sale value was $15 billion.
Iran currently produces 66 million tons of petrochemical products a year. It is planned to increase this production to 100 million tons and the country's revenues from $17 billion to $25 billion until 2022. At the same time, it is planned to increase production to 133 million tons and revenues to $37 billion in Iran’s petrochemical sector until 2026.
