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(ICIS) -- Iran’s 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 Iran’s 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.
mrcplast.com
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