Iranian President Hassan Rouhani on Thursday inaugurated Lordegan Petrochemical Company in the southwest of the country.
The plant, which is located in Chaharmahal and Bakhtiari province, has the capacity to produce 677,000 tons of ammonia and 1,075 tons of urea annually.
Rouhani said during the opening ceremony that the products of the facility will be exported and Iran is ready to supply the international market at lower prices, official IRNA news agency reported.
He also welcomed foreign investments in the country’s development projects.
According to Tasnim news agency, 800 million United States dollars has been invested in the plant so far.