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Irans Pars Phenol is planning a new ethylene glycol project at Assaluyeh

November 16/2011

(ICIS) -- Irans Pars Phenol is planning a new ethylene glycol (EG) project at Assaluyeh, a company official said on Monday. The nameplate capacity of the EG plant is 550,000 tonnes/year and the total investment for the project is around $400m-450m (?288m-324m), said the official. Financing [for the project] is about to be finalised. We plan to put the line into production in 2015, he said. He added that construction work will start within 12 months from now and the project will take around three years to complete.

The new plant will produce monoethylene glycol [MEG], diethylene glycol [DEG] and triethylene glycol [TEG], the source said, although he did not reveal the yield ratio of the three products.
Feedstock ethylene will be sourced from National Petrochemical Co (NPC) of Irans Assaluyeh plants, he said.

Pars Phenol is the only producer in the Middle East that has secured feedstock for its new EG project. Other Middle East majors, such as SABIC, will use feedstock from within the region as well but have suspended their MEG expansion plans because they cannot find more feedstock supply sources.

Perspectives of development of polymer markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit will be organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.

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