Date: 30 May 2022 ، the watch 15:38
News ID: 10735

Annual investment in PSEEZ increases 46%

Iran’s biggest energy hub, Pars Special Economic Energy Zone (PSEEZ), has managed to attract 70 trillion rials (about $270.1 million) as well as €500 million of investment in the previous Iranian calendar year (ended on March 20) to register a 46 percent growth, year on year.

According to Khosro Afrouzeh, the director of economic development and investment attraction of Pars Special Economic Energy Zone Organization, the organization has been following new strategies to optimize investment processes with the aim of facilitating the investment environment and creating a smooth path for small investors and focusing on key customers.

PSEEZ was established in 1998 for the utilization of South Pars oil and gas resources and to encourage commercial activities in the field of oil, gas, and petrochemical industries in southern Iran.
Afrouzeh noted that based on PSEEZ’s grand scheme for the Iranian calendar year 1404 (starts in March 2025) the total petrochemical processing capacity of the zone is expected to reach 60 million tons, of which so far 32 million tons have been realized.

Located in the port city of Assaluyeh, PSEEZ is home to several petrochemical complexes that receive gas and gas condensate feedstock from the giant South Pars gas field, which Iran shares with Qatar in the Persian Gulf.

The zone is the hub of Iran’s exports of major non-oil commodities including gas condensate and petrochemicals.

Back in December 2021, PSEEZ Managing Director said that good measures were taken to strengthen and stabilize revenue sources for Pars Energy Special Economic Zone Organization.
According to Asadi, the necessary licenses were obtained for the allocation of more investment for this zone in the near future.

Proper planning, resource management, and prioritization of development projects have led to the maximum production of the South Pars gas field as one of the PSEEZ’s missions, the official said.

Source: Tehran Times