Wednesday, October 5, 2022

Iran Makes Its Largest Investment to Date in Kurdish Regions

Iran has bankrolled $800m for the development of Sanandaj and Mahabad petrochemical plants, both located in the country's Kurdish regions, thus making Iran’s biggest state investment in the region's history.

The development of Kurdish regions was the message of Iranian President Hassan Rouhani’s visit to the north-western city of Mahabad in launching a petrochemical plant in the region, Iranian Minister of Petroleum Bijan Zangeneh told Shana on Tuesday May 31.

He said that the plant has been financed by state funds, and that it was an unprecedented move by the Iranian administration to fund an industrial unit of such magnitude.

The official said that the development of Mahabad petrochemical plant has been considered a major plan by the Iranian Ministry of Petroleum, ever since it envisaged the construction of the West Ethylene Pipeline project.

The West Ethylene Pipeline’s design and construction was put forth by the ministry in 2002, he added, saying that the project is aimed at developing petrochemical industries in Kurdish regions in western Iran.

Sanandaj Petrochemical Plant is operational and will be officially inaugurated within a few months, Zangeneh added. Mahabad and Sanandaj plants can process 330,000 tons of polyethylene and butane annually.

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