The country's pretrochemicals sector will witness a boom in petro with the implementation of the ambitious Olefin-8 project.
Two major Iranian petrochemical companies Arvand Petrochemical Company and Petrochemical Industries Engineering and Designing Company have signed a contract to ensure country's ethane production rise to 12 million tons a year by the next decade.
As per the details of the contract, one million tons of ethylene per year will also be produced in line with National Petrochemical Company's (NPC) future project in the Fourth Five-Year Economic Development Plan (2005-10).
Olefin-8 project will come up in the Mahshahr Special Petrochemical-Economic Zone and will produce over 2,500,000 tons per year of petrochemical products.