Iran inaugurates ME's biggest formalin plant

Gameron Petro Industry Complex was inaugurated in a ceremony attended by Iran’s First Vice President Mohammad Reza Rahimi in the southern port city of Bandar Abbas in Hormozgan Province on March 4.

The plant, which has been set up by the private sector, is set to annually produce 30,000 tons of formalin in the initial stage, which can be increased to 56,000 tons per year. In addition to producing formalin, which is used in chemical, sanitary, medical and animal husbandry industries, the plant will annually produce 5,000 tons of hexamine, which is used in a range of industries including plastic and textile, pharmaceuticals and defense.

The industrial unit will create job opportunities for 200 people.

Iran has significantly expanded the range and volume of its petrochemical products over the past few years, and the National Iranian Petrochemical Company (NIPC) has become the second largest producer and exporter of petrochemicals in the Middle East after Saudi Arabia.

The Islamic Republic exported a total of 18.2 million tons of petrochemical and polymer products, worth about USD 14.2 billion, to more than 60 countries in the previous Iranian calendar year (ended March 19, 2012).

Iran's petrochemical products mostly include ethylene, methanol, urea, polyethylene and polyolefin, according to the NIPC.