Sepehr Energy Holding is about to launch the Sabalan Petrochemical Plant. The plant will commence its production by March 20, 2021. Sepehr CEO, Davood Bagheri, said that apart from the Sabalan Plant, the Dena Petrochemical Plant will also be expected to be put into operation ahead of its initial schedule. Bagheri stated at the Sepehr Energy Holding Annual General Meeting through video conference in the last fiscal year, in efforts to change the pursuing approach of the project, resulting in the resumption of the long-break-from-operation Siraf Petrochemical Plant, the inauguration of Sabalan Petrochemical Plant this year, construction of the four-star Assaluyeh’s Sepehr Hotel after a few years of full closure, first-time memorandum for attraction conclusion for 100 million euros in Dena Petrochemical Project, the accomplishing of removing Lavan Chemical Company’s legal barrier, and the sale of Sitco Company’s first commercial shipment.
CEO Bagheri said that after years of waiting, 2020 is the year when Sabalan Petrochemical Plant, the first petrochemical project of the holding, will begin to operate with higher than 9% progress accounted for in the current fiscal year and 96.3% overall progress. Regarding the Dena Petrochemical Project, considering the attraction of 100 million euros in foreign investments, in the next fiscal year the 25% progress is expected to reach its overall completion of 90% and projected to commence ahead of schedule. In the next 20 months, the two completed petrochemical plants will be added to the country's valuable industry.
