Japan financers back to Iran’s petrochemical industry

News ID: 3734118 -
TEHRAN, Aug. 07 (MNA) – An official said three Japanese and South Korean financiers have voiced readiness to undertake a petrochemical projects in Iran.

Deputy Head of Bandar Imam Petrochemical Company (BIPC) Mohammad Gholi Younesi pointed to a new developmental project in BIPC saying “a tender has been put in for implementation of the new plan within the framework of an Engineering, Procurement, Construction and Financing (EPCF) contract.”

The official underlined that relevant negotiations for the project have been launched with Asian financers asserting “so far, talks have been held with two Japanese firms and a South Korean company.”

Younesi also touched upon the positive correlation between the increase in Iran’s crude oil production and the capacity for manufacturing petrochemical products noting “for the current year, total production of 5.6 million tons of petrochemicals has been put on the agenda.”

The overhaul process in the Iranian petrochemical plant over the first quarter of the current Iranian calendar year (began March 20) resulted in decreased production; however, the plan to boost production will become realized due to increased capacity as well as feed supply on the part of National Iranian Oil Company (NIOC), he underlined.

BIPC deputy head recalled that extraction of crude oil from the country's southern oil-rich fields has been raised since late last year; “accordingly, the feed supply of Bandar Imam Petrochemical Company, which mainly includes liquid gases (ethane, propane, butane and pentane), has risen.”

“In the present year, a daily average of 105 thousand barrels of feed has been delivered to BIPC from NGL units located in southern Iranian fields,” highlighted Mohammad Gholi Younesi maintaining that the average figure for last year resided at 85 thousand barrels per day.

At the end of his remarks, the official underlined “given the continuous increase in feed supply, approximately an annual amount of 400 thousand tons will be added to production of Bandar Imam Petrochemical Complex.”

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