Iran’s Damavand Petrochemical Project has announced that its Phase 1 will be operational by summer of 2017, according to a report.

A total of four 162 megawatt turbines will be installed during Phase 1 of the €3 billion ($3.24 billion) project of which two have been installed, and installation on the other two has already been started, Hossein Shahryari, managing director of Damavand Petrochemical Project, was quoted as saying in an IRNA report.

He said that the generation station of the project will operate with gas turbines to generate 2,000 megawatts of electricity, becoming one of the country's biggest gas power stations.

Iran is building Damavand Petrochemical Project to add 30 million tonnes to its current annual 60 million tonnes per year (mt/y) petrochemical output, said the report.

The project will bring Iran's petrochemical output to 90mt/y once completed, it added.