NPC, IMIDRO Ink Petchem MoU

(Monday, June 10, 2019) 16:34

TEHRAN (NIPNA) – The National Petrochemical Company (NPC) and the Iranian Mines & Mining Industries Development & Renovation (IMIDRO) have signed a memorandum of understanding to accelerate activities in Phase I of Parsian Energy Intensive Industrial Special Economic Zone (PEIISEZ).

14 projects are to be built in the zone’s first phase.

The deal was signed on Monday by Behzad Mohammadi (NPC CEO) and Khodada Gharibpour, chairman of IMIDRO board of directors.

Accordingly, NPC is tasked with vetting the credentials of petrochemical units intended to be based in PEIISEZ.

This memorandum of understanding, while facilitating the deployment of petrochemical companies in the zone, will accelerate the operation of five petrochemical projects in the region, each of which will have a capacity to generate 5 to 7 thousand jobs.

Plans are under way to produce 4 million tons of steel, 18 million tons of petrochemicals and 1.2 million tons of aluminum. Besides 6,000 megawatts of power will also be generated in the region.

Iran is to build 14 petrochemical projects in Phase I of Parsian Energy Intensive Industrial Special Economic Zone (PEIISEZ), which will add 15 million tons to the country’s annual production capacity.

The projects will be build with $19 billion of investment and will create a new movement in the southern province of Hormuzgan.


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National Petrochemical Company