15 May 2007 - 14:50
  • News Code: 104723
Arya-Sasol Polymer Co. Project Progress over 97%

TEHRAN -- Total progress of Arya-Sasol Polymer Company reached 97.49 percent, the project planning manager said Tuesday.

According to Hamid-Reza Farzaneh, pilot operations of the ethylene, light polyethylene, and heavy polyethylene units with 97.48, 97.36, and 97.04 percent executive growth would launch as of Oct. 22, Sept. 30, and Aug. 5 respectively.

Olefin 10 also made 69.99%, 97.07%, 99.99%, 100% progress in civil operations, installation, logistical service, and engineering operations.

National Petrochemical Company (NPC) in collaboration with Africa’s Sasol is also witnessing Olefin 9 operations in Pars Special Economic Zone, Assalouyeh.

Olefin 9, one of the world’s largest projects, will add 400 thousand tons of ethylene, 90 thousand tons of carbon slice 3, 300 thousand tons of different types of polyethylene, and 300 thousand tons of light polyethylene to the country’s petrochemical output.

The NPC managing director announced that Iran would make a 12.3 billion dollar investment in the petrochemical sector in the Fifth Five-Year Socioeconomic Development Plan (2010-2015).

“The investment helps the sector increase the petrochemical out by 33.7 million tons during the plan,” predicted the official.

Nejabat said 24 petrochemical projects with a 14.8 billion dollar fund had been included in the Fourth Five-Year Development Plan (2005-2010), with some becoming operational.

The NPC head said 13 petrochemical projects would come on stream in the current year, adding three of them were ready for inauguration.

“At present, Iran accounts for 12 percent of the Middle East’s petrochemical output, valued at 25 billion dollars, and the share will touch 34 percent by the end of 20-year Outlook Plan, 2015,” said Nejabat.

“The country’s world share is 0.9 percent, which is predicted to reach 6.3 percent by 2015.”

News Code 104723

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