Ilam Polypropylene Park Highly Lucrative: CEO

(Monday, July 20, 2020) 22:44

TEHRAN (NIPNA) -- The CEO of Iranian Investment Petrochemical Group (Petrol) said construction of Ilam Polypropylene Park would be highly economical as a project.

Addressing a ceremony to sign an agreement for construction of Ilam Polypropylene Park on Monday, Rasoul Ashrafzadeh said: “The rate of return on investment of this project is more than 30%.”

He said development of value chain completion was one of the main policies of Petrol.

The official further said low volume of investment, sustainable employment, prevention of raw materials sales with the development of downstream industries, prevention of currency outflow from the country, employment of local specialists and development of the region were the goals sought in developing Ilam Polypropylene Park.

Ashrafzadeh added that 6 zones had been considered in Ilam Polypropylene Park, noting: “94 different units can be built in the park for production of items like pipes, injection molds, films and sheets, pneumatic molds, protective coatings, fibers and other products.”

The CEO of Petrol stated that the area required for the construction of the polypropylene park was 30 hectares.

The total capacity of this park will be 35,000 tons, which will create direct employment for 4,830 people and indirect employment of 9,000 people.

Ashrafzadeh further said that the volume of investment necessary for construction of Ilam Polypropylene Park would be IRR 12,000 billion by the private sector.

Petrol will have 20% stakes in the project, he added.

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