According to a report, Iran has so far completed laying down 1,700 kilometers of the 2,650-km West Ethylene Pipeline project which is expected to become fully operational by late March 20 2017.
Marziyeh Shahdaei, who is also deputy petroleum minister in petrochemical affairs, told the opening ceremony of Mahabad petrochemical Plant in the northwestern province of West Azerbaijan that the pipeline links South Pars gas field to petrochemical plants in the western territories of the country.
The West Ethylene Pipeline is fed by the gas recovered from South Pars gas field and the gas fields in Gazchsaran, southwestern Iran, to feed 12 petrochemical plants along its path.
Initiated in 2002, the project is financed by state finances of nearly 1,700 billion tumans, said Shahdaei.
Iran on Tuesday inaugurated a polypropylene and butane petrochemical facility in the northwestern city of Mahabad in West Azerbaijan Province.
The plant is the last unit that will be fed by the ethylene supplied by West Ethylene Pipeline which brings feedstock from South Pars gas field in Persian Gulf waters.
Mahabad Petrochemical Plant is built on 185 hectares of land and is developed for the annual production of 300,000 tons of light and dense polyethylene and 30,000 tons of butane.
Funded by Bakhtar Petrochemical Company (a private sector holding company) with an investment of €210m and IRR3, 223b.
The project is financed by the Iranian Bank of Industry and Mine (€210m), stockholders (€30m and IRR2, 221b) and Bank Melli Iran (IRR1, 002b).
The plant will create jobs for 600 individuals directly and 1,000 others indirectly.
Iranian President Hassan Rouhani, Iranian Minister of Petroleum Bijan Zangeneh and head of the National Petrochemical Company (NPC) along with a number of local government officials attended the opening ceremony of the plant.
During his 2-day visit to the region, President Rouhani also launched Urmia Petrochemical Plant on Monday.
Besides, 284 production units as well as 341 civil and economic with an investment of IRR27, 900b were also planned to be inaugurated by the president in his tour to the region.
The plant is the last facility to be fed by West Ethylene Pipeline.