World Bulletin / News Desk

Iran has begun a project worth $12 billion to build 17 petrochemical units in the Iranian city of Chabahar on the Sea of Oman coast. 

The nine year project is part of plan to produce 22 million tonnes of petrochemical and polymer products per year which would target the markets in Pakistan, India and China. The location would cut the cost of shipments and reduce export expenses.  

The construction of the first pipeline to carry ethane for use as feedstock in the units will also begin soon, the Fars news agency reported on Friday.

According to Press Tv, the multimillior dollar project is in line with Iran’s policy to expand petrochemical plants beyond the Strait of Hormuz and use free trade zones and other infrastructural facilities near the Sea of Oman.    

It will include four methanol units, four ammonia units, four urea/ammonia units, two ethylene units, an aromatics production unit and a methanol-to-propylene unit beside an additional development unit.

Iran currently produces 60 million tonnes of petrochemicals a year. The National Petrochemical Company (NPC) plans $30 billion of investment to raise this to 100 million tonnes.