Iran Press/Iran news: "Ilam, Lordegan and Urmia Petrochemicals Plants are scheduled to come on-stream by the end of the current Iranian calendar year to March 20," Rasoul Ashrafzadeh, Managing Director of Iranian Investment Petrochemical Group (IIPG) said on Friday.
These three petrochemical projects will increase Iran's petrochemical production by 2.5 million tons, he added during a news conference according to Iran Press.
Ashrafzadeh also said the total amount of Iran’s petrochemical production in the last Iranian calendar, increased compared to the same period the year before.
Addressing a press conference on Tuesday, Jafar Rabiei, the CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) said the holding company was currently building projects with a total value of 10 billion dollars in Iran.
“The petrochemical industry is in good shape and the sanctions have not had a significant impact on the industry,” he added.
Washington imposed new sanctions on Iran’s largest petrochemical holding group, aiming to dry up yet another source of Iran’s revenues in order to boost pressure on the country’s economy.
The US Treasury said in a statement that it had sanctioned the PGPIC holding group’s network of 39 subsidiary petrochemical companies and foreign-based sales agents.
However, experts and analysts believe these new sanctions to be more symbolic than practical. 101
Read More:
Iranian petrochemical exports from South Pars Gas Field soar at height of sanctions
