Jul 25, 2021 20:18

Veep Calls for Investment in Petrochemical Sector

Veep Calls for Investment in Petrochemical Sector
Vice President Eshaq Jahangiri called for governmental and foreign investment in the petrochemical sector.

He made the remarks in the inauguration ceremony for Lorestan Petrochemical Complex, western Iran.

Development of downstream industries in Lorestan province is an opportunity which can change the region to one of industrial hubs of the region, Jahangiri added.

He said that the west ethylene pipeline which connects Iran’s southern seashores to the western and northwestern regions can enhance employment in the region.

Government has plan to absorb foreign investment for development of the petrochemical sector of Iran’s oil and gas industry, the official noted.

Jahangiri inaugurated Lorestan Petrochemical Complex on Tuesday morning. Completion of Lorestan Petrochemical Complex which has the capacity of production of 300,000 tons of low and high density polyethylene per year creates more than 100 downstream industries.

The complex uses 324,000 tons per year ethylene gas which is supplied through a cross-country pipeline originated in Assaluyeh.

 

Some 233 million euros have been invested in the project supplied by Bank of Industry and Mine. 580 people have been employed at Lorestan Petrochemical Complex and 5,000 people will be employed by downstream industries.

May 4, 2016 12:17
shana |
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