According to the oil ministry of Iran, the construction of the Iran's first petrochemical park which is a part of Assaluyeh petrochemical zone's phase-2 has set underway. The private sector is involved in the construction of the 430,000 tpa petrochem park at an investment of EUR 410 mln (approx. US$579.13 mln). The petrochem park in Assaluyeh will comprise of the six units for the production of petrochemical products such as styrene, methanol, ethylene, and propylene.
Also, the ministry said that the realization of the petrochemical park which is supported by the National Petrochemical Company (NPC), will enhance the region's prospect for petrochemical products with a likely future investment of US$9 bln in the offing.