Iranian President Hasan Rouhani inaugurated the Persian Gulf Bid Boland Gas Refinery in the southwestern province of Khuzestan.

The large refinery was launched in a ceremony held via video conference on Thursday morning.

Rouhani described the project to construct the refinery as one of the largest projects in the region and thanked all of the engineers and others who contributed to the major venture.

He also noted that the achievement was made while Iran has been under the illegal sanctions imposed on the country by the US According to Rouhani, the project was completed with a total investment of $3.4 billion.

Iranian Minister of Petroleum Bijan Zangeneh said the country would no longer flare associated petroleum gases by March 2023.

He added that the country would generate $1.5 billion/year by the project.

This is the 11th petrochemical project which has come online in Iran since last March.

Zangeneh announced that the 3200 NGL project would come online next calendar year and by exploiting it, all the gases of the West Karun region will be sent to Bandar Imam after collection and processing.

He added that the NGL 3100 plant would come online the following year along with a petrochemical plant with 1 million tons of annual production capacity in Dehloran.

Noting that the Persian Gulf Bidboland refinery has the capacity to produce 3.5 million tons of ethane, butane, propane, and pentane plus, he said, adding the Persian Gulf Petrochemical Industries Company (PGPIC) has been entrusted with another project to collect associated gases with $1.1b of investment.