Aug 9, 2004, 8:43 PM

7th Olefin Progresses 91.34%

TEHRAN, August 9 (MNA) –- Physical progress of the 7th olefin project underway by Marun Petrochemical Company has reached 91.34 percent by July 21, registering 332,700 person-hours accident-free work.

The unit will fetch the country 400 million dollars in net profits from export of products when in full swing.

Marun Petrochemical Company is being constructed at two separate sites including 93 hectares at Bandar Imam Special Economic Petrochemical Zone and 9.5 hectares in Ahvaz. Ahvaz unit, which is responsible for producing ethane from natural gas and supplying feed to the site at Bandar Imam Special Economic Petrochemical Zone, will become operational by November.

The 7th olefin will produce 1.1 million tons ethylene as intermediate product and 1.35 million tons final petrochemical product worth 900 million dollars annually and capital return for the project has been estimated at 2.5-3 years.

Total investment in the project has been estimated at 7,900 billion rls including 800 million dollars and 1,500 billion rials.

MSK/NJ/RA

END

MNA

News ID 7298