New Petrochem Hub in Southern Regions

New Petrochem Hub in Southern RegionsNew Petrochem Hub in Southern Regions

Makran petrochemical complex will be Iran’s new petrochemical hub, currently being constructed with more than $12 billion in private investment, IRNA reported.

Iran’s petrochemical output will significantly increase upon completion of the complex. A total of 17 petrochemical units are planned to be constructed, including four methanol units, four methanol ammoniac units, four urea ammoniac units, two elfin units, two development units, one aromatic unit, and one methanol propylene unit.  It is expected to be completed in three phases, over the course of nine years. A total of 22.2 million tons of petrochemical products will be exported once all three phases go into operation.

Located off the coasts of the Persian Gulf and the Gulf of Oman, the complex has a strategic importance due to its proximity to international waters and global markets.  

Some 300 acres of the land has been allocated for the of the complex. Environmental studies were also carried out to obtain the environmental impact assessment (EIA) license, and the complex is designed to reduce air pollution taking into account the experience of previous projects, including Mahshar and Assalouyeh petrochemical complex.

Japanese, Indian and European investors have expressed willingness to participate in development projects in the region.