TEHRAN — Over $14 billion has been set aside for petrochemical sector of the South Pars phase 2, Mehdi Saqafi, an official in the National Petrochemical Company (NPC) told Mehr News Agency (MNA) on Monday.

The petrochemical projects of SP phase 2 should become operational within the next five years, the deputy for petrochemical projects at NPC added.

Elaborating on these projects, he stated that the engineering operations of projects of Mehr, Kavian, Lavan, and Mobin 2 have been launched plus start of the construction operation of some other ones.

Moreover, the ammoniac and urea, methanol, and aromatic 4 projects would be commissioned in the near future, Saqafi noted.

Compared with the phase 1, more petrochemical projects are being implemented in phase 2, as this phase would be turned into a petrochemical hub.