The projects were phase II of Karoon Petrochemical Plant, Middle East’s first supplies of MDI, and Takht Jamshid Petrochemical Complex.
First Vice-President Eshaq Jahangiri attended the ceremony to launch the two projects.
Karoon Petrochemical Plant will supply 40 thousand tons of MDI annually. If fully operational, the plant, financed by €350m, saves the country $300 million annually.
Karoon Petrochemical Plant is the first supplier of MDI in Iran which is a strategic product for production of a range of items including foams used in car industry and industrial covers.
Moreover, Takht Jamshid project is a key piece in completion of the value chain in the region because it is fed by butadiene and styrene for production of polymers.
Karoon Petrochemical Plant has purchased high-tech technologies for production of MDI and TDI from Sweden’s Comator. The Swedish firm was a partner in Karoon Petrochemical Project prior to imposition of sanctions on Tehran’s nuclear program.