Esmaeil Mousavi said the project will be the biggest petrochemical plant in northeastern Iran and will be developed by Nargan Company which is now carrying out appraisal studies over the project.
He said an internal rate of return (IRR) of 18-20% has been envisaged for the project which will yield ammonia, urea and crystal melamine.
The CEO further said that the project will be constructed based on the latest technological advancements in the industry and is being developed for processing 360,000 tons/year of ammonia, 660,000 t/y of urea and 20,000 t/y of crystal melamine.
Fed by Martyr Hashemi Nejad Plant in Sarakhs County, Razavi Khorasan Province, the plant is currently producing 330,000 tons of ammonia, 495,000 tons of urea and 20,000 tons of crystal melamine annually.