Saturday, September 25, 2004

IranMania News

IranMania News: "Iran share of world petrochemicals exports to up

LONDON, Sep 25 (IranMania) - Iranian share of the world's export of petrochemical products is to increase. This hike is from 0.5% to 2.2% by the end of current Iranian calendar year (ending on March 20, 2005), Iran's State News Agency (IRNA) reported.

Projects manager of National Petrochemistry Company Hossein Sadat told reporters here Saturday that the country`s total petrochemical output would amount to 15 mln tons per annum next year.

He added that Tondgouyan, Amir Kabir, Third Aromatics and Maron petrochemical projects are among the projects currently underway at Imam Khomeini Port which are scheduled to come on stream by the end of current year.

He noted that other projects predicted in the Third Development Plan will be completed next year. Pointing to the effects of oil price hike on petrochemical industry, Sadat said, "Petrochemical units use natural gas as their feedstock .So, increase in oil prices has no immediate impact on this industry."

The official noted that a $12 bln credit will be invested in petrochemical industry in the Fourth Development Plan, adding that the new investment will be made mainly in Assalouyeh region. He further stated that two new olefin units, one methanol unit, and urea as well as ammonia units are among such projects."

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