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On July 10, the director of Persian Gulf Holding, the parent company of Gachsaran Petrochemical Company, announced that the Olefin project in the southwestern region of Iran has officially commenced operations. This new project is expected to produce an impressive 1 million metric tons of ethylene annually, making it a significant milestone for the company and the country's petrochemical industry.  Additionally, the Gachsaran Petrochemical Company's olefin project will be responsible for supplying the national ethylene pipeline in western Iran, as well as plants in Mamasani, Boroujen, Dehdasht, Gachsaran, and Kazeroun.

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During the inauguration ceremony of the Gachsaran olefin plant in the Kohgilouyeh and Boyer-Ahmad province, Iran's oil minister Javad Owji revealed that a total of 68 projects, with a combined worth of USD 15 billion, are set to become operational by March 2024.  These projects are expected to contribute significantly to the country's output, with a projected addition of 130,000 barrels of oil and 40 million cubic meters of gas.
 
Several new projects have been recently inaugurated in Southern Iran's petrochemical industry. These initiatives consist of associated petroleum gas (APG) collection, Phase 14 of the South Pars gas field, and Phase 2 of the Abadan Refinery-Integrated Petrochemical Plant.  Additionally, the third olefin plant is now operational.

The APG generated from the oil fields in Southern Iran is processed at the Persian Gulf Bidboland Gas Refinery, and the resulting ethane is then transmitted to the Gachsaran Petrochemical Complex.  It is worth noting that the construction of the Gachsaran Petrochemical Complex took a total of 17 years to complete. However, the ministry has accelerated the project in the past two years, resulting in significant development of the country's petrochemical value chain.

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According to Procurement Resource, the Olefin project of Gachsaran Petrochemical Company has become operational and was inaugurated on July 10. This plant is predicted to manufacture 1 million metric tonnes of ethylene annually. Additional 68 semifinished projects are also expected to be operational by mid of March 2024.