22 November 2006 17:38 [Source: ICIS news]
One of them is
It found acetic acid technology but the search is still on for vinyl acetate monomer (VAM), polyvinyl alcohol (PVA) and phenol/acetone processes as it seeks to leverage further it's position as the holder of the world's second largest conventional oil reserves.
Most developed countries have closed their doors as
Nuclear sanctions have made it tough, for instance for Fanavaran Petrochemical to import the much needed zirconium and hastelloy plant needed for its acetic acid project.
If further sanctions are imposed that bar imports of chemicals such as additives, more petrochemical producers will be hit.
The situation also doesn’t bode well for development in downstream industries. Investors, even rich Iranians, are deterred by geopolitical risks and local banks have become reluctant to hand out loans following a recent move by the government to lower interest rates.
But the industry is hopeful that when new petrochemical capacities eventually come on stream, prices will become more competitive and draw investors to the downstream industries.
However, the much anticipated avalanche of petrochemicals from
The recent management changes at NPC have also put paid to some initial studies and put foreign projects on hold. One of these is a fertilizer joint venture with
But this will not stop Iranians who are used to navigating their way around obstacles, not unlike attempts to get out of daily traffic jams in
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections