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Sibur may take part in Iranian projects

November 30/2011

(europeanplasticsnews) -- Russian petrochemical giant Sibur may help implement a number of petrochemical projects in Iran in cooperation with the local National Petrochemical Company, Irans leading petrochemical producer, according to Iranian media reports.

According to Abdul-Hussein Bayat, Director General of National Petrochemical Company, Sibur may help build a petrochemical plant, Khaleej Farce, in Bushehr.
The Iranian media have also reported on a recent agreement between Iran and Russia on the construction of a petrochemical complex in an industrial Assaluye area on the northern bank of the Persian Gulf. According to Bayat, the Iranian petrochemical industry needs about ?37bn of investments, with an annual volume of investments of at least ?4.47bn.

He added that over the past 50 years more than ?34bn has been invested in developing the counrtys petrochemical industry and increasing its production capacities. The country currently has the capacity for the production of 51m tonnes of petrochemical products per year.
According to Bayat, Iran currently ranks first in the Middle East in terms of annual production of petrochemical products, thanks to its rich raw materials base and favourable geographical location.
According to Bayat, by the end of 2015 the volume of production of petrochemical products in Iran should increase by half - to 100m tonnes per year.

The Polymers Summit ICIS-MRC 2011 has been held today, on Nov, 30 in the Ritz-Carlton Moscow. The main topics of the reports were devoted to the development of petrochemical market and the strategy in the market of base polymers as well as launching new polymer productions.


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