Abdolreza Rahmani, Iranian interior minister, paid a visit to the facility in western Iran Thursday and learned about its progress.
Construction of the plant began in 2005 but was halted by the sanctions.
However, construction of the project resumed in 2011 after a 6-year cession. The plant is now nearly complete and is scheduled to become operational by 2017.
An investment of €247m and IRR2,030b has been made in the project which is expected to supply 300,000 tons of light polyethylene annually.
The plant is one of the numerous petrochemical plants constructed along West Ethylene Pipeline.
Initiated in 2002, the pipeline is to carry ethylene from Assaluyeh, south of Iran, to western provinces of Khuzestan, Lorestan, Chaharmahal Bakhtiari, Kohguiluyeh Boyer Ahmad, Kermanshah, Kurdestan, and West Azerbaijan.
The second phase of West Ethylene Pipeline is close to coming on-stream, Shah-Daei said in April.
The second phase of the pipeline is 585 kilometers, stretching from Kermanshah to Mahabad.
West Ethylene Pipeline has the capacity to carry 3.5 million tons of ethylene.