Iran is set to inaugurate a major petrochemical plant, Gachsaran Petrochemicals, which relies on over 80% domestically produced equipment. The project, costing €1.3 billion, will increase Iran’s ethylene production by 1 million metric tons per year. The plant will be supplied with 1.25 million metric tons per day of ethane gas through a pipeline from Bidboland Gas Refinery. The launch of the plant will create 1,000 direct jobs and 3,000 jobs in the supply chain. Despite US sanctions, Iran has focused on utilizing domestic resources to expand its oil and gas sector.
- Iran launching $1.43bn petrochemical plant in Gachsaran