25 April 2014 14:50 [Source: ICIS news]
SHANGHAI (ICIS)--Several petrochemical plants currently under construction in Iran will bring on stream a total of 55m tonnes/year of new capacity by 2020, a senior official of Iran’s National Petrochemical Co (NPC) said on Friday.
Part of the new capacity are projects located along the western pipeline which will supply ethane and feedstock ethylene to the upcoming projects, said NPC’s vice president & board member, MH Peyvandi, at the sidelines of Chinaplas, a four-day plastics and machinery exhibition in Shanghai which ends on 26 April.
Of the 55m tonnes/year of new petrochemical capacities, 6m tonnes/year of capacity will be started up between 2015 and 2016, Peyvandi told ICIS.
The US-led economic and financial sanctions on Iran have had limited impact on the country’s exports of petrochemicals such as methanol and PE, he said.
Sanctions are less effective on petrochemical producers because it is not easy for buyers to find alternative supplies at short notice, he said.
The role of NPC, a state-owned entity under the Ministry of Petroleum, had changed after the company divested its stakes in all its downstream subsidiary and affiliate companies in recent years, he said.
One of NPC’s current responsibilities is to lead the strategic and long-term planning of the domestic petrochemical industry, he said.
As part of its task to drive the strategic and long-term plans, NPC will be responsible for the feasibility studies of petrochemical projects in which the Iranian government owns some shares, and projects whose financing are arranged by the government, he added.
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