The projects are Marjan Petrochemical Plant, Phase III of Pardis Petrochemical Plant and Phase I of Damavand Petrochemical Plant.
The projects are 3.4 million tons to the country's annual petrochemical production capacity and have been build with $1.85 billion of investment.
Iranian Minister of Petroleum Bijan Zanganeh was also present in the opening ceremony of the projects on Tuesday.
Construction of the third phase of the Pardis Petrochemical Complex began in 2011 for production of 1, 750, 550 tons of urea and ammonium annually.
It is worth mentioning that with the official inauguration of the project, this complex will become the largest producer of urea and ammonia in the Middle East and the world with an annual production capacity of 5.265 million tons, and about 300 jobs will be created. An investment of $570 million has been made for construction of the project.
The construction of the Marjan Petrochemical Plant began in 2011 for an annual production capacity of 1.65 million tons of methanol. The unit has been productive for a while now but it is being officially inaugurated.
It is worth mentioning that this petrochemical project has been put into operation for $914 million and has created employment for 250 people directly.
Phase I of Damavand Utility Project is developed for supplying electricity and steam for 24 adjacent petrochemical plants. The unit is constructed with 648 megawatts of electricity production capacity and will be run by 4 gas turbines. An investment $366 million was made for construction of the plant which generated jobs for 166 people.
Pasargad Energy Development Co. (PEDC) is an independent energy company based in Iran. PEDC is an integrated energy company whose activities span the entire value chain including exploration, production, refining, petrochemicals marketing, power generation & renewables as well as new high-tech venture capitalizing. Our headquarter is located in Tehran. PEDC is present across the Iranian continental shelf and international market through its subsidiaries. We create value for our shareholders through active investment, high-level monitoring of our projects, building world-class partnership and managing our risks effectively and making balanced portfolio. Meantime, we contribute to the sustainable development of the energy sector and communities in our country. PEDC’s competitiveness relies upon our values-based performance culture, with a strong commitment to transparency, cooperation and continuous operational improvement. As a wholly owned subsidiary of the Pasargad Financial Group, with Pasargad Bank being a distinctive shareholder, we owe our success to our experience, management knowledge and strong local/international partnerships since 2008. PEDC is committed to maintaining sustainability and being recognized as the strategic partner of choice in Iran’s energy and petrochemical sector.