Iran to build large petrochemical facility in Chakhabar

Iranian Deputy Minister for Petroleum and head of the National Petrochemical Company Abdolhossein Bayat said that Iran was planning to build a large petrochemical complex in Chakhabar on the coast of the Arabian Sea, Press TV reports.

It will reduce the costs of petrochemical exports to India and China.

About $20 billion will be invested in the facility. It will produce 15 million tons of products.