Iranian Oil Minister Bijan Namdar Zanganeh's grand vision for Iran's petroleum future includes a $52 million, 154 km ethylene pipeline to be constructed in Tabriz in the northwestern corner of the country.

The petrochemical complex there has an annual production capacity of 370,000 tons, but the capacity is set to double upon the pipeline's completion by 2021.

"Tabriz should turn into a hub of petrochemical development," Zanganeh said, adding that the government is keen to accelerate petrochemical investments in Tabriz by offering 30% discount on the gas feedstock to new plants in the region." Tabriz has long been a major heavy industry hub for automobile, machine tools, refineries and petrochemical and cement industries.

The pipeline is expected to come on stream by March 2020.