Iran to launch 57 oil projects by June

Jan 03, 2013 12:00 AM

Iranian Oil Minister Rostam Qassemi said 57 Mehr Mandegar (Lasting Kindness) projects currently underway in the oil sector will come online before the end of President Ahmadinejad's tenure in June 2013.

Addressing the inauguration ceremony of Kermanshah Polymer Plant in western Iran, Qassemi said, "A few days ago, 1000 kilometers away from here, we inaugurated two petrochemical projects in Assaluyeh including Kavian Petrochemical Plant and West Ethylene Pipeline; while today the first petrochemical plant in West of the country, which will take feedstock from Kavina Petrochemical Plant, becomes operational."

He said under intelligent initiative of the government on construction West Ethylene Pipeline, as the longest ethylene pipeline in the world, 12 provinces of the country will take advantage of oil and gas resources deposited south of the country.

"We had the choice to concentrate building petrochemical plants in the south but the government decided to turn 12 provinces of the country into industrial centers by construction West Ethylene Pipeline and building tens of petrochemical units along the line," he added.

Alluding to huge volume of executive work done for construction of West Ethylene Pipeline, Qassemi noted more than 60 million cubic meters of soil removed to that end, equal to those needed for building several large dams.

Referring to petrochemical sector as a big advantage for the country and important for the government, the official said the government had paved the way for establishment of hundreds of factories and petrochemical related industries 'and now it is the time for entrepreneurs to grasp at the golden opportunity for investment.

In addition to 8 billion dollars of investment in development of two phases of South Pars gas field to provide feedstock for Kavian Petrochemical Plant, the government has invested remarkable amount of money in 12 provinces to spur industrial revolution in those provinces by encouraging completion of downstream industries in petrochemical sector and creating of value chain, the official noted.

"Besides Mehr Mandegar projects in petrochemical sector, construction of 70 other plans are under way having progressed between 5 to 95 percent," the minister concluded.

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