Iran plans new petrochemical hub in Chabahar port

An Iranian deputy oil minister says the country plans to build a new petrochemical hub in the southeastern port city of Chabahar through USD 20 billion of investment.

According to Press TV, Mohsen Khojasteh-Mehr stated on Tuesday: “Only those companies will be given permit for establishing petrochemical plants which are able to complete their value chain.”‌

He said the plan will be implemented in three phases with a total investment of USD 20 billion.

He pointed out that Iran is one of the world’s major petrochemical producers, putting the country's petrochemical production at 246 million tons per day.

According to the official, out of 57 million tons of the country’s rated petrochemical production capacity, 12 million tons remains vacant, though only three million tons of it can be blamed on feedstock shortage.

Khojasteh-Mehr stated that the petrochemical industry has remarkably reduced Iran's dependence on crude oil revenues.

Chabahar Port, in Sistan and Baluchestan Province, lies 72 kilometers West of Pakistan's Gwadar Port, and is connected to the city of Zaranj in Afghanistan's southwestern province of Nimruz.

Source: irib.ir