Iran Hands Over 1200 Hectares of Makran Land for Downstream Industries

Iran Hands Over 1200 Hectares of Makran Land for Downstream Industries
(Tuesday, May 2, 2023) 23:30

TEHRAN (NIPNA) -- The Managing Director of Negin Makran Petrochemical Development Company, Alireza Moniri Abyaneh, announced that half of the land in Chabahar region, equivalent to 1200 hectares, has been assigned to investment companies for the development of downstream industries.

In a specialized meeting on the roadmap for the development of the value chain of the petrochemical industry at the IPF, Moniri emphasized the high investment opportunities of the Sistan and Baluchistan province, which has 5,800 km of coastal strip, but currently only provides 2-2.5% of its gross domestic product through the sea.

He pointed out that countries like Vietnam and China have 50% of their domestic and foreign gross domestic product through the sea.

The development of the unique land planning of the National Petrochemical Company is crucial for the creation of petrochemical hubs in Asalouyeh and Mahshahr by the sea. However, Moniri regretted that currently, water is being transferred from the south to the center of the country to supply water to large industries such as steel.

Chabahar port has the least distance to the world's big markets like India, making it economically beneficial for investors to invest in this region.

The Council of Ministers had decided to establish a third petrochemical hub in the Chabahar region in 2019. The Managing Director of Negin Makran Petrochemical Development Company highlighted the difference between Makran Petrochemical Hub and other petrochemical hubs in the country due to the region's 3000 years of history in terms of civilization. Makran region has managerial, economic, environmental and social functions for the petrochemical industry.

The existing projects in the Chabahar region employ 4,000 people. In the first phase, infrastructure such as electricity, water and utility supply will be put into operation this year. With the support of NPC, the remaining land in the Chabahar region will be assigned to downstream projects to promote economic growth in the region.

Iran is handing over 1200 hectares of Makran land for the development of downstream industries, and the Chabahar region is becoming a hub for petrochemical industry investment.

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