TEHRAN- A large petrochemical complex with an annual production capacity of 310,000 tons came on stream today in the western province of Kordestan.

Some €257 million has been invested in the project, which started in 2005, Shana reported.

President Hassan Rouhani and Oil Minister Bijan Namdar Zanganeh officially inaugurated the complex.

The Kordestan Petrochemical Complex is projected to produce 310,000 tons of light polyethylene per year, which are mainly used in downstream industries for manufacturing plastic parts and wire sleeves.

Iran’s petrochemical production, which stood at 46.4 million tons in the Iranian calendar year 1394 (March 2015-March 2016), is planned to soar to 180 million tons over the next ten years, according to the National Petrochemical Company.

The NPC managing director Marzieh Shahdaie said in August 2016 that Iran needs $20 billion of investment to complete unfinished petrochemical projects across the country in 5 years.

MG