20 April 2012 14:09 [Source: ICIS news]SHANGHAI (ICIS)--?xml:namespace>
The basic engineering contract for the project was awarded to France-based Technip.
Kavian officials were not available for comment.
Iran's Bakhtar Petrochemical owns 56.5% stake in Kavian, with the remaining shares held by a cluster of private Iranian investors, including Lorestan Petrochemical, Kermanshah Polymer Co, Kordestan Petrochemical and Mahabad Petrochemical.
Another Iranian industry source said most of the ethylene would be used to feed the many downstream projects scheduled to start up in the next two years, as it would be difficult to export it because of the tightening sanctions against Iran.
Lorestan, Kordestan and Mahabad, are all expected to start up polyethylene (PE) facilities by 2014, said Oladi.
These facilities were earlier expected to start up in 2012. However, they have been delayed by two years on account of sanctions, said the industry source.
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