Makran petrochemical hub receives €10 billion investment

TEHRAN – The head of Negin Makran Petrochemical Development Company announced that approximately €10 billion has been invested in the third petrochemical hub at Negin Makran in Chabahar. This investment aims to establish petrochemical complexes and complete the methane gas value chain, ensuring that raw petrochemical exports will cease upon completion of the hub’s phases.

Alireza Moniri Abyaneh, speaking with IRNA on Tuesday, stated that the Makran Petrochemical Complex consists of six megaprojects and 22 downstream petrochemical units. According to plans, utilities such as water, electricity, steam, and auxiliary services, along with two petrochemical units, will become operational by the summer of 2025.

He emphasized that the expertise developed in the country’s third petrochemical hub is a valuable asset. He noted that Iran’s petrochemical industry is now 63 years old, with the first two hubs, Mahshahr and Asaluyeh, established by the government.

Moniri Abyaneh highlighted that one of the main achievements of the Makran Petrochemical Complex is the employment of local workers. The workforce in this complex exceeds 5,000, with over 50 percent recruited from the local population.

The official recounted the origins of the Makran Petrochemical Complex, which began following a directive from the Leader of the Islamic Revolution to develop the Makran coastline. In 2011, during a provincial visit to Sistan-Baluchestan, the government approved the establishment of the country’s third petrochemical hub in the Chabahar Free Zone, at a location identified by the Ministry of Oil.

Moniri Abyaneh noted that the Makran Petrochemical Complex, recognized as the third petrochemical hub, is the first instance where private-sector entities led the development of a petrochemical zone in a free trade area. Over time, even the regulatory frameworks governing development were drafted and refined as part of this pioneering project.

The Makran Petrochemical Complex encompasses 18 infrastructure and investment projects, seven of which involve petrochemical production in collaboration with private companies and investment holdings. Spanning 1,260 hectares, the majority of the hub’s output will be exported, while some products will serve as feedstock for domestic petrochemical facilities and downstream industries.

EF/