The news that Iran is accelerating its uranium enrichment process brings the country closer to United Nations sanctions and quite possibly a military strike by the US or Israel.
The No 9 and No 10 Olefins projects are far too progressed to be cancelled – the plants are virtually complete and the only issues remaining are achieving a smooth commissioning process (no straightforward task in Iran) and sorting out utilities problems.
But what of Olefins, No 11, No 12 and No 13 etc? Will any foreign engineering and construction company and technology supplier be prepared to sign on the dotted line as the prospect of sanctions or military action becomes increasingly likely?
If you take these crackers out of olefins and polyolefins balances what will this mean or the timing of the next downturn? Answers, please. No 11-No 13 were supposed to be on stream in 2008.