Price and market trends: Iran plans $1bn expansion for Asaluyeh petrochemical complex

24 May 2013 09:17  [Source: ICB]

Iran plans to build more petrochemical plants in the Asaluyeh industrial complex that will require investments of more than $1bn (€780m), a source from the country's National Petrochemical Co (NPC) said on 16 May.

Suggested projects in the third phase of the Assaluyeh expansion project include a fourth polyethylene terephthalate (PET)/purified terephthalic acid (PTA) project, an 800,000 tonne/year methanol-to-dimethyl ether (DME) project, and a methanol-to-polypropylene (PP) project.

The PET/PTA project will produce intermediate PTA of 500,000 tonnes/year to feed into a 500,000 tonne/year PET project, while the methanol-to-PP project will ­produce 500,000 tonnes/year of propylene as intermediate to produce 500,000 tonnes/year of PP.

These projects are expected to cost more than $1bn, and the NPC hopes to attract foreign investors.

Details on the first and second phases were not immediately available.

By: Heng Hui
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