Iran, Germany Ink Agreement on PVC Complex Project
The deputy-managing director of Iran Development Management Company and the executive manager of Ude in the presence of Deputy Oil Minister and Managing Director of Iran’s National Petrochemical Company (NPC) signed the agreement.
NPC will construct the PVC complex in Bandar Imam Special Economic Zone. Some 570,000 tons of chlorine is to be annually produced in the plant, out of which 160,000 tons will be used to feed Ghadir, Khuzestan and Karoun petrochemical units and the remaining 410,000 tons will be used as EDC/VCM input. Besides 300,000 tons of suspension PVC, 40,000 tons of emulsion PVC, 267,300 tons of ethylene dichloride and 643,000 tons of 100-percent caustic soda would annually be produced in the plant. The project due to be implemented within 36 months, covers a license to be purchased, application of fundamental engineering services, supply of equipment and machinery, training, installation services as well as the construction and implementation of the complex. He put the value of the products of the plant, which are to be mainly exported, at more than $370 million and hoped that once it becomes operational, it will boost the country's production and export of PVC. "Three PVC production complexes are currently operational in Abadan, Bushehr and Hamedan," he added. The official said that a 13-year-long finance has been allocated to the project, which will be reimbursed gradually through the product export revenues. Concerning Iran-EU future relations, he noted, "The inked contract shows that EU is willing to further institutionalize its cooperation with Iran."