Indian, Japanese and Chinese investors are reportedly looking to finance the development of petrochemical projects in Iran’s Chabahar Petrochemical hub in Sistan Balouchestan province.
Chabahar Makran Petrochemical Complex manager Hassan Malek Esmaeili was quoted by Fars news agency as saying that the complex is expected to become one of the petrochemical hubs in the country upon completion.
"During the visit from Iran, investors from Japan, India and China visited the Chabahar and assessed investment opportunities in its petrochemical complex."
Featuring 17 production units, the Makran complex is scheduled to be commissioned over a period of nine years and be developed in three phases.
The $11bn complex will be designed to have petrochemicals production capacity of 23 million tons annually, of which 20 million tons will be exported to Middle East, India and China, reported the Financial Tribune.
"Once completed, the complex will be regarded as a major leap in the country’s petrochemical development," Esmaeili added.
The first phase of the project will have an estimated 8.1mt/y of petrochemicals output, of which $5bn worth of products will be exported to world markets. The first phase is planned to commence production in 2018.
According to the Financial Tribune, Negin Mokran Development Company intends to produce olefins and aromatics at the complex, for use as feedstock in downstream industries.