Sunday, January 02, 2005

Iran striving to rank first in ethylene production

Iran striving to rank first in ethylene production: "Iran striving to rank first in ethylene production
TEHRAN, Jan. 2 (MNA) – Iran plans to be number one in producing ethylene in the world – reaching 12 million tons output within the next 10 years – by allocating 17.5 billion dollars in investment for development of petrochemical projects in the Fourth Five-Year Development Plan (2005-2010).
The figure stood around 12.5 billion dollars for the first to third development plans (1990-2005) in total.

Out of the 25 projects under implementation, the National Petrochemical Company (NPC) have completed 17 and would finish the rest soon, said Hassan Sadat, manager of plans in the NPC.

NPC plans to have an output of 25.6 million tons capacity by March 2010 jumping up from 7.3 million tons in 1999, he added.

The investment in the sector is forecast to increase by 40 percent in the fourth plan.

Sadat said that the output of polymers would reach 10 million tons within the next 10 years. The production of chemical fertilizers, methanol, and aromatic materials would increase to 8 million tons each. NPC has estimated that the country earns some 20 billion dollars from export of petrochemicals only by the date.

At present, nearly 52,000 employees work in petrochemical sector that enjoys modern technologies such as ABS, PET – PAT, engineering polymers, isocyanides, DME, and acetic acid."

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