TEHRAN (PIN) – The National Petrochemical Company (NPC) managing director said petrochemical production would rise to 27 million tons from 19 million tons by the end of current Iranian calendar year (March 19, 2008).

Gholamhossein Nejabat added petrochemical industry earned the country 6.1 billion dollars in the previous Iranian year (ended March 20, 2007), predicting that the annual revenue would touch 8.3 billion dollars by mid-March 2008.
The NPC chief said 24 petrochemical projects were underway, adding 12.5 billion dollars had been invested in the projects, whose physical progress ranged from 30 to 98 percent.
He made the remarks at groundbreaking ceremony of the Third Urea and Ammonia Complex in Shiraz, the capital of southern Fars Province.
Nejabat said the annual urea fertilizer of Shiraz Petrochemical Complex would soar to 1.5 million tons from current 500 thousand tons when the project came on stream.
He added the ammonia unit of the complex would have the capacity to produce over two thousand tons of ammonia and 2,400 tons of CO2 per day.
The official said the Third Urea and Ammonia Complex would be built by Petrochemical Engineering and Design Company in collaboration with two companies from Switzerland and Japan in a parcel of land with an 18 ha area.
The NPC managing director added 304 million euros would be paid by the Oil Stabilization Fund (OSF) for the project that would be carried out within 42 months.
------------------------------------------------- Ethylene line
Nejabat said the ethylene line with a 2,400km length would be laid from the southern part to the western part of the country.
He added 10 petrochemical complexes including Mamassani, Kazerun, Gachsaran, Borujerd, Khorramabad, Sanandaj, and Andimeshk would be built along the line.
President Mahmud Ahmadinejad said ethylene lines would be rapidly laid at the four corners of the land.
The president put great emphasis on the development of downstream industries, reiterating that the ethylene line in the western part of the country needed to extend to all areas of the territory.
Ahmadinejad added the petrochemical sector had the capacity to set up a downstream complex in every province.
Such projects would promote domestic expertise in all parts of the country and would create job opportunities, assured the president.
He urged the officials to remove the obstacles and build the infrastructures in an attempt to enjoy the public participation.
Addressing Petroleum Ministry officials, Ahmadinejad ordered them to construct petrochemical complexes throughout the country and to offer their shares to the general public.
He urged the petrochemical managers to formulate a five year plan that would help Iran have the final say in the industry, turning the country to the cradle of petrochemical training in the world.
“We need to indigenize technologies,” underlined the president.