TEHRAN – The head of Iran’s National Petrochemical Company (NPC) has said two major petrochemical projects are going to go operational in southwestern Mahshahr port, Shana reported.

Morteza Shahmirzaei, who was visiting some petrochemical projects in Mahshahr Petrochemical Special Economic Zone, said: "With the efforts made in the current year, the Ethylene Oxide Unit of Maruon Petrochemical complex and Nakhl-e Asmari Petrochemical project will soon be put into operation.”

According to Shahmirzaei, the Ethylene Oxide Unit of Maruon Petrochemical complex is now ready for operation with more than 99 percent physical progress and it is expected to be officially inaugurated during the Ten-Day Dawn (February 1-11, 2024, which marks the anniversary of the Islamic Republic of Iran).

The petrochemical industry plays a crucial role in Iran’s non-oil economy, as petrochemical export is the second-largest source of revenue for the country after crude oil. Petrochemical exports already constitute nearly 33 percent of the country’s non-oil exports.

According to Shah-Mirzaei, the company plans to increase its annual petrochemical production capacity to 200 million tons over the next 10 years.

In this regard, Iranian Oil Minister Javad Oji said that more than 100 petrochemical projects with a total investment of about $70 billion have been defined and will be implemented across the country.

Oji noted that the country will also be completely self-sufficient in producing the catalysts used in the petrochemical industry by the end of the current government administration's incumbency (August 2025).

EF/MA