25 March 2017 - 16:18
  • News ID: 276157

KPP Biggest Industrial Investment in Kurdistan: Min.

KPP Biggest Industrial Investment in Kurdistan: Min.

TEHRAN, March 25 (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh says the western province of Kurdistan has seen inauguration of the biggest industrial project in its history now that Kurdistan Petrochemical Plant (KPP) has been officially inaugurated .

Iran launched a 300,000-ton petrochemical project on Saturday in a ceremony that was attended by Iranian President Hassan Rouhani and Mr. Zangeneh along a number of other government and local officials. 

Mr. Zangeneh said over IRR 14,000 billion was invested in the project; an investment which will be continued with other such industrial projects in the province. 

He said proximity of Kurdistan, Ilam, Kermanshah and Mahabad petrochemical facilities to Iran's border line with Iraq is a great advantage for export of their output, adding development of downstream projects in western Iran would boost petrochemical exports of the country. 

"Western Iran is turning into the third petrochemical hub in the country as new facilities are being developed in the region," said the official. 

New petrochemical projects are planned to be launched in the near future in Iran including Kavian II, Marjan, Entekhab, Kaveh, Pardis and Morvarid. 

Once all these projects become operational, and given the output of the projects that were inaugurated during the previous calendar year that ended on March 20, a total of 9.5 million ton of petrochemicals will be added to Iran's annual petrochemical output, added Mr. Zangeneh. 

The raised output will increase Iran's petrochemical revenues by $5.5b/y, he said.  

KPP is financed by €257m and IRR3,800 and is touted as one of the key petrochemical projects in western Iran that was developed in line with Economic Resilience instructed by Supreme Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei in order to generate jobs and produce value-added items in western, less developed provinces of the country. 

The project is one of the 12 projects fed by the West Ethylene Pipeline which carried the ethylene produced by Kaveh Petrochemical Plant in southern Iran.
News ID 276157

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