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Polyethylene units to boost petrochem production
04
Feb '08
Iranian company Nargan in collaboration with Tecnimont of Italy have been assigned with the contract on Linear light polyethylene units in Lorestan and Mahabad. The project has been conferred by Iran's National Petrochemical Company (NPC) and will involve an investment of nearly 428 million euro.

A major chunk of the investment would be utilized for purchasing technology, providing basic and detailed engineering, catering equipments and offering training courses.

To be set up on lines of western ethylene pipeline, the project of Lorestan and Mahabad petrochemical complexes will be operated and taken charge by the Bakhtar Petrochemical Company (BPC) in which the private sector holds 70 percent of the stake.

With constant support and assistance provided by the NPC, shareholders and the contracting financers like Bank of Industry and Mine, the BPC project is expected to get started by 2009.

Experts believe that with the commencement of the two petrochemical units, downstream industries in the region will have a very positive future.

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