Construction of 70% of Salman Farsi Petrochemical with 120 million euro facility of Saderat Export Bank

According to the financial news report, quoted by the public relations of the Export Development Bank of Iran, Mohammad Jaafar Mazdeh, the head of the Export Development Bank of Iran, along with the bank’s senior managers, visited Salman Farsi Petrochemical in Khuzestan province and was closely informed of the 70% progress of this project.

Salman’s petrochemical project has achieved 70% physical progress with the financing of 200 million Euros from Iran’s Export Development Bank. After completion and operation, this project will generate more than 450 million dollars annually for the country.

The Vice President of Credits of Iran’s Export Development Bank, stating that 120 million Euros of the approved amount of the facility has been paid to this project, predicted that this project will be put into operation by 1403.

According to him, the facility of 200 million euros of this project is financed from the National Development Fund.

Reza Saedifar stated that 500 jobs have been created in the operation phase of the Salman Farsi Petrochemical Project, and stated: The amount of employment generated by this project in the construction and preparation phase is close to four thousand people.

The Vice President of Credits of Iran Export Development Bank continued: This project is being built in order to provide the value chain in the petrochemical industry and to provide feedstock for the production units of polypropylene, phenol, acrylonitrile, etc. in the new petrochemical complex of Mahshahr.

It should be noted that Salman Farsi Petrochemical is the operator of the project to convert propane gas to propylene gas in Mahshahr with an area of ​​16.75 hectares. In this regard, the Petrochemical Downstream Industries Development Company was established in 2013 with the participation of the Iran Industries Development and Modernization Organization and the National Petrochemical Industries Company and was handed over to the private sector in 2013.