Iran starts construction of $1bn petrochem plant
The Gachsaran plant will have a capacity of of 5,000 tons of formic acid and 500 tons of vinyl acetate and generate over 400 jobs
Iran has started construction of a $1bn petrochemical plant in Gachsaran.
The sod-cutting ceremony in Iran's south-western city was witnessed by president Hassan Rouhani.
Gholamreza Tajgardoun, representative of the city's people in the parliament, said the plant will generate 432 jobs when completed.
It will have a production of 5,000 tonnes of formic acid and 500 tonnes of vinyl acetate, reports the Fars News Agency, and is spread over 57ha of land and 16,000m2 built up area.
The project is being built in an area of 57ha with 16,000m2 of built area.
The MP said the administration has plans to build a special oil and gas economic zone in the city as well as three downstream petrochemical projects and watershed management projects.