26 March 2001 00:00 [Source: ACN]
LG International (LGI) has won a US$60m contract on behalf of its sister company to provide engineering, procurement and construction supervision services for National Petrochemical Co's (NPC) 150 000 tonne/year acetic acid project in Iran.
The services will be provided by LGI's sister company, LG Engineering and Construction. Oil Industry Engineering and Construction will carry out the construction.
The project is proposed downstream of NPC's 1m tonne/year Methanol No3 project in Bandar Imam which will start up in 2002.
The acetic acid project is expected to take 32 months to be completed.
KMT of Ukraine will provide the technology. The company was a licensee of Monsanto's methanol carbonylation technology, which was bought by BP in 1986.
Both projects will be operated by NPC subsidiary Fanavaran Petrochemical. NPC also plans to produce vinyl acetate monomer downstream of the methanol project (ACN 1/8 Jan, p33).
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