Shell, Basell eye 50% share in NPC's Olefins No 8 in Iran

27 May 2002 03:44  [Source: ICIS news]

SINGAPORE (CNI)--Shell Chemicals and Basell are interested in acquiring a combined 50% stake in National Petrochemical Co's (NPC) Olefins No 8 project, CNI was told.

Shell and Basell are conducting a joint feasibility study into the Iranian state-owned major's project, which is located at Bandar Imam, Iran.

The study is due to be completed by this year.

This is contrary to widespread understanding at the 4th Iran Petrochemical Forum in Tehran earlier this month. The understanding among consultants and a source close to NPC was that Shell had by itself agreed to take a 70-80% stake in the project.

Basell is a polymers joint venture between Shell and BASF. It ws not immediately clear how the shareholding between Shell and Basell would be divided.

Shell, Basell and Linde have been appointed the technology licensors to Olefins No 8.

The project, which would be operated by NPC's subsidiary Arvand Petrochemical Co, has capacities to produce 1m tonne/year of ethylene, 350 000 tonne/year of medium density polyethylene (mdPE), 350 000 tonne/year of low density polyethylene (ldPE), 550 000 tonne/year of ethylene glycol/ethylene oxide, 50 000 tonne/year of di-ethylene glycol, 50 000 tonn/year of tri-ethylene glycol and 60 000 tonne/year of pyrolosis gasoline.

By: John Richardson, Asian Chemical News/CNI
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