Oct 14, 2003, 8:03 PM

World Eyeing Middle East for Petrochemical Development

TEHRAN October 14 (Mehr News Agency) – Middle East as the largest world resource of oil and gas is the centre of attention for development of petrochemicals industry, director of planning and development department of Iran’s National Petrochemicals Company (NPC) Mohammad Hassan Peyvandi said here Tuesday.

Speaking at the Inaugural ceremony of the International Conference on Middle East’s Petrochemical Industry, he said that Ethylene, which is the major petrochemical substance, is largely found in Middle East countries.

“The more a country produces ethylene, the more it gains from the world market. Therefore, Iran is trying to increase the production rate of Ethylene as well as several other stuffs including Polyethylene, Methanol, Polyester, and Ammoniac,” Peyvandi added.

18 Iranian companies have attended the two-day conference along with 30 foreign companies mostly from Middle East countries.

ER/IS

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MNA

News ID 2265