Addressing the opening ceremony of 4 petrochemical projects on Sunday, Mr. Rouhani said the day is a memorable day for the Iranian nation and the people of the southern province of Bushehr, saying each inauguration of each petrochemical project is a reflection of the potentialities of the Iranian nation.
He also said two key ports are about to open north of the country, saying free trade between Iran and 5 other Eurasian countries is being pursued by his cabinet and will provide major advantages for development and export of agricultural as well as industrial items for Iran.
Iran on Sunday launched 4 petrochemical projects that will add 2 million tons to the country's annual petrochemical output.
The projects include Phase II of Kavian Petrochemical Plant, Takht Jamshid Pars Petrochemical Plant, Entekhab Group Polystyrene Unit and MEG unit of Morvarid Petrochemical Plant.
Phase II of Kavian Petrochemical Plant is the biggest supplier of ethylene in the Middle East and has been built for production of over a million tons of ethylene annually. The unit will feed West Ethylene Pipeline which delivers feedstock to 12 petrochemical plants in western Iranian provinces.
Fed by ethane recovered from various phases of the supergiant South Pars Gas Field in the Persian Gulf, the facility is constructed with an investment of €200 million and IRR 2,350 billion. It is estimated to sell $950m/y of petrochemicals.
Financed by €40m and IRR 1,350b, Takht Jamshid Pars will be able to supply 55,000 tons/year of polystyrene once its production hits full tilt. It is estimated to sell $85 million of petrochemicals.
Polystyrene Unit of Entekhab Industrial Group is financed by nearly $120m and IRR 2,000b and can supply 250,000 of polystyrene annually. It is planned to be fed by 235,000 tons/year of styrene supplied by Pars Petrochemical Plant. The facility will fetch roughly $385m/y for the country by its activities.
MEG Unit of Morvarid Petrochemical Plant is the last project that will come on stream next week by the president.
Constructed with €170m and IRR 8,900b of investment, the unit will supply 540,000 tons of monoethylene glycol (MEG) and triethylene glycol (TEG) annually.