2 July 2016 - 15:11
  • News Code: 264071
Bu Ali Petchem Plant to Ink €50m Deal with French Firms

TEHRAN, July 02 (Shana) -- Managing Director of Bu Ali Sina Petrochemical Plant said the company is about to sign a €50m deal with French developers.

Mohammad Reza Saheb Nasaq told Shana said that talks with two French companies began 5 months ago and in the near future will lead to signature of a deal with them. He decided not to disclose the name of the companies before the deal is signed.

He said the deal will concern upgrading the ammonia production unit and replacement of molecular sieves at absorption towers of the plant. 

Sahib Nasaq said supply of equipment and technical services will also be considered through the deal. 

Bu Ali Sina Petrochemical Plant became operational in 2004 and needs some upgrades after 12 years of non-stop operation, said the CEO.

He further said the three-way deal will be finalized by August and will double the plant's paraxylene output after completion of the upgrades. 

P-Xylene is an aromatic hydrocarbon based on benzene with two methyl substituents with the chemical formula C₈H₁₀ or C₆H₄(CH₃)₂. The “p” stands for para, identifying the location of the methyl groups as across from one another.

News Code 264071

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