11.9.15

Iran economic development

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Iran has started construction of two major industrial units in the country’s southeastern province of Sistan-and-Baluchestan.
Iran has started construction of two major industrial units in the country’s southeastern province of Sistan-and-Baluchestan.
 
 
Presstv.com 
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Iran on Thursday started construction of two major industrial units in the country’s southeastern province of Sistan-and-Baluchestan – projects that are expected to lead to a major leap in the province’s industrial growth. 
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The projects involve the construction of a large steel mill as well as a mega petrochemical plant in the port city of Chabahar. 
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Both are located in Mokran industrial zone and were kick-started by Defense Minister Hossein Dehqan and Industries Minister Mohammad-Reza Ne’matzadeh, respectively. 
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The steel mill – Mokran Major Steel Complex – is projected to have an annual output capacity of 3.2 million tons and its products will include sponge iron, iron pellets, steel wires, and hot roll steel. 

The project that requires an investment of $4.3 billion will be complete within three years. The objectives of the project are to provide supplies to satisfy domestic needs and also export the products.  Creation of 1,000 jobs for residents in Sistan-and-Baluchestan is also a prime objective.
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A second project – whose construction started along with the steel mill – involves a collection of 20 projects with a total investment of $20 billion for production of various petrochemical products including methanol, ammonia urea, ethylene and propylene.
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Negin Mokran Petrochemical Project will have an overall production capacity of 30 million tons and officials say it will create jobs for 20,000 people.
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The required natural gas feed for both projects will be provided from IGAT VII – a pipeline that has been constructed from Assaluyeh energy hub in the southern province of Bushehr to the border with Pakistan. The same pipeline is projected to be used for future exports to Pakistan. 

Iranian officials said earlier in April that Indian enterprisers have voiced interest to invest in petrochemical projects in Sisitan-and-Baluchestan.
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On a related front, India is working over a plan to develop Chabahar – what Iran expects would help turn the key port to a major regional trade and transit hub. (Central Asia