Iran to launch major utility project by March 2016Staff writer ▼ | December 22, 2015
A senior petrochemical official said Iran will launch a section of Damavand Petrochemical Plant by the end of the current Iranian calendar year to March 21 2016.
Petrochemical products Director of Projects Marziyeh Shah-Daei
Shah-Daei added that 60 to 67 projects are being constructed in Iran for the time being of which 16 projects have made over 87% progress and are highly prioritized by NPC for completion. NPC also considers projects with at least 50% progress as the second priority.
Iranian petrochemical plants process 44.5 million tons of petrochemicals annually which is less than their nameplate capacity due to feedstock shortages.
Iran has defined dozens major petrochemical projects which are expected to double the country's production capacity to 120 mt/y by 2025.
"The projects are estimated to cost $40bn for their completion," she added. ■