Iran is to launch three petrochemical projects within the next two months to March 2017, end of the current Iranian calendar year.
The projects are phase II of Kavian Petrochemical Plant with 1.1 mt/y of capacity for production of ethylene, Entekhab Polystyrene Plant with 250,000 t/y of production capacity, Kurdistan Light-Density Polyethylene Plant with 300,000 t/y of capacity will be launched by the end of the calendar year to March 20 2017.
Furthermore, phase III of Pardis Petrochemical Plant with 1.7 mt/y of urea and ammonia production capacity and Kaveh Methanol Project with 2.3 million tons of annual production capacity (the world's biggest methanol unit) will be launched in the near future.
Once operational, these projects, financed by 5 to 5.5 billion dollars, will add 9 million tons to Iran's total petrochemical production capacity by the end of President Rouhani's tenure to August 2017.
The country has also inauguration several other projects during the current year including Lorestan Linear Polyethylene Plant with a capacity of 330 thousand tons/year, Urmia Sulfuric Acid Plant with a capacity of 50,000 t/y capacity, Mahabad Linear Polyethylene Plant with a capacity of 330,000 t/y and Marvdasht Martyrs Petrochemical Plant with 1.8 million tons of urea and ammonia production capacity per year.
On Monday, Iran launched two private petrochemical projects at the heart of the Mahshahr petrochemical zone, southwest of the county.
The projects were phase II of Karoon Petrochemical Plant, Middle East's first supplies of methylene diphenyl diisocyanate (MDI), and Takht Jamshid Petrochemical Complex.
First Vice-President Eshaq Jahangiri attended the ceremony to launch the two projects. Karoon Petrochemical Plant will supply 40 thousand tons of MDI annually. If fully operational, the plant, financed by €350m, saves the country $300 million annually.
Karoon Petrochemical Plant is the first supplier of MDI in Iran which is a strategic product for production of a range of items including foams used in car industry and industrial covers.
Moreover, Takht Jamshid project is a key piece in completion of the value chain in the region because it is fed by butadiene and styrene for production of polymers.
It can process 80,000 tons of petrochemicals annually. Karoon Petrochemical Plant has purchased high-tech technologies for production of MDI and TDI from Sweden's Comator. The Swedish firm was a partner in Karoon Petrochemical Project prior to imposition of sanctions on Tehran's nuclear program.