Petchem projects progress sluggish

TEHRAN Oct 15 (Shana)–A deputy head of National Petrochemical Company has said that petrochemical projects are not progressing quickly due to financial problems.

“Fifteen half-finished petrochemical projects are more than 60 percent complete, but due to the presence of the private sector in these projects and its failure to finance them, these projects are moving ahead piecemeal,” Mohammad-Hassan Peyvandi said.

He said that allocation of five billion dollars from the National Development Fund of Iran will be a fast way of completing the projects.  

Peyvandi said these 15 projects can raise the country’s petrochemical production by more than 10 million tons a year.

He said that they will be also able to feed other petrochemical plants.

Peyvandi said NPC should consider development of technologies for converting methanol to products of higher value like propylene in the coming years. He added that the country’s methanol production will soar to 25 million tons from a current 5 million tons over five years.

He said that NPC will focus on propylene production for ten years.



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