BAKU, Azerbaijan, February 13. The ABS 3000 and ABS 4000 production units of Iran's Padjam Polymer Development Company have been commissioned in Iran's Bushehr Province, Trend reports via the country's National Petrochemical Company (NPC).
The province hosted a ceremony attended by Iranian President Masoud Pezeshkian, Minister of Cooperatives, Labor and Social Security Ahmad Meydari, and Deputy Minister of Petrochemical Affairs Hassan Abbaszadeh.
In his speech, Meydari said that $480 million had been invested in the commissioning of these production units which will have the capacity to manufacture 120,000 tons of products annually.
Meydari pointed out that with the launch of these units, the country will no longer need to import products worth $90 million per year.
The minister added that the units have the potential to export products worth $400 million annually.
To note, Iran currently has 72 petrochemical enterprises. The potential of petrochemical production is 96 million tons per year.
In the next five years, 61 new petrochemical plants will be established with an investment of $24 billion, increasing production potential by 35 million tons annually.
Notably, Iran aims to increase its petrochemical production to 186 million tons over the next decade.
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