Iran\'s new petrochemical company to produce 340000 tons

Iran is slated to officially inaugurate three important petrochemical industry projects in the country\'s Mahshahr Petrochemical Special Economic Zone. The projects include the polyvinyl chloride (PVC) production line at Arvand Petrochemical Complex, the oxygen and nitrogen production line at Maroon Petrochemical Plant and the second liquids loading pier at Mahshahr Petrochemical Special Economic Zone. All three enterprises are due to be inaugurated in the presence of senior Iranian officials on Monday, May 21, to mark the anniversary of the liberation of Khorramshahr from Iraqi occupation during the eight-year imposed war (1980-1988). Arvand, the fourth petrochemical complex to produce PVC in Iran, will increase the country\'s annual production capacity by 340 thousand tons. The output will fully satisfy Iran\'s domestic demands and even turn the country into a PVC exporter. It is estimated that the Islamic Republic will hold 25 to 30 percent of the global market following the export of the product. Bandar Imam Khomeini, Abadan and Qadir are the three other petrochemical complexes producing PVC in Iran with an aggregate production capacity of over 405 thousand tons per year. A number of petrochemical projects are due to come on line this year. These projects include NF3 unit of Bandar Imam Khomeini petrochemical complex, olefin-1 and olfin-2 in Kavian petrochemical complex\'s, PVC plan in Hegmataneh petrochemical complex, Kermanshah petrochemical complex\'s heavy polyethylene, the first phase of Damavand power plant, the first phase of ethylene pipeline in West of the country and a number of other projects. By launching these projects it is expected at least 3,600 jobs will be created and production capacity of petrochemical products will increase by more than 8 million tons. Since 2005, when President Mahmoud Ahmadinejad ascended to power, 38 petrochemical plans have been launched leading to rising production of petrochemical products from 20 million tons to 54 million tons per year. Iran\'s petrochemical products are exported to more than 60 countries across the world.