According to NIPNA, the National Petrochemical Company's official news agency, the projects include Marjan Petrochemical Company—aka the 7th Methanol Project—in Phase 2 of South Pars in Asalouyeh, Phase 3 of Pardis Petrochemical Company, with a capacity of 1.7 million tons of urea and ammonium as well as a power plant in Damavand Petrochemical Complex that provides utilities and offsite services required for petrochemical projects at Phase 2 of Pars Special Economic Energy Zone. Reportedly, the initiatives were completed at an estimated cost of $570 million. Five petrochemical ventures, worth $1.5 billion, namely Entekhab Petrochemical Plant, Pardis Petrochemical Complex Phase 2, Takht-e-Jamshid Petrochemical Complex and Morvarid Petrochemical Company all in Asalouyeh, Bushehr Province, as well as the second phase of Kavian Petrochemical Complex in PSEEZ, went on stream in 2017. NPC hopes to lift nominal output capacity to more than 120 million tons per annum by 2022, the last year of Iran's Sixth Five-Year Economic Development Plan, according to Financial Tribune.