October 08, 2008

Iran petrochemical projects will triple in 10 years - Mr Nejabat

Mr Gholamhossein Nejabat MD of Iran’s National Petrochemical Company, while addressing at a conference on modern petrochemical era in Pars special economic energy zone, said that Iran’s petrochemical projects will have a 300% growth in 10 years.

Mr Nejabat said that “According to the plan, we have vowed to put 12 petrochemical complexes into operation in 2007, 9 had already come on stream and 4 more would become operational by March 2008.” He added that domestic petrochemical output will soar to 98 million tonnes at the end of 2014, fetching the country USD 20 billion per annum.

Mr Nejabat said that the two last petrochemical complexes of the first phase of Assaluyeh Arya Sasol and Jam would also start work by March 19th 2008. He added that USD 15 billion had been invested in the industry since 1996 and USD 12.5 billion had been allotted for petrochemical projects during the 4th Five Year Socioeconomic Development Plan. He said “Iran is to earn USD 5 billion through exports of petrochemical products in the current Iranian year.”

Iran and South Africa had made a USD 1.3 billion investment in Arya Sasol complex with the 2 sides holding 50% share each. It has Mehr Petrochemical Complex, in which Japan and Thailand had participated, Karun Petrochemical Complex that was under construction in collaboration with Germany and Sweden and Laleh Petrochemical Complex that will be built through cooperation of Saudi Arabia.