Akbar Torkan, secretary of the supreme council of special and free trade zones, said 15 petrochemical companies are being built in the hub’s first phase.
Located in Chabahar region, southeastern Iran, the hub is being developed for production of 25 million metric tons of petrochemicals annually, he said.
Torkan further added that four methanol plants are being erected in the hub’s first phase which will create jobs for 8,000 people.
The official said an investment of $18b has been made for development of the phase, adding the project is being built in 1,200 hectare of land.
He also said that a 285-km gas pipeline for feeding the facilities in the hub is being laid out with investment provided by Ghadir Investment Company.
Torkan further said that 8 downstream projects have come online so far in the region, whose products are being exported.