TEHRAN – The contract on the tendered Olefin 12 of Assaluyeh would be finalized within the next four to six months, said the deputy managing director of Petrochemical Development Management Company Wednesday.

Mohammad Khayyat talking to PIN blamed lack of the necessary technology for the delays in the project.

Elaborating on other projects of the company, he said the tender documents of two Assaluyeh-based ethane units would be provided within one month, adding the two plants’ feedstock would be the gas of phases 6-8 of South Pars field as well as ethane and heavier gases of Fajr Refinery.

According to him, the three tenders of the private sector’s Golestan, Zanjan, and Lordegan urea and ammonia complexes were underway. National Petrochemical Company (NPC) holds 20 percent of the complexes’ shares.

Khayyat, who is also the head of company’s board of directors, said two one million ton ethylene plants would be negotiated in the near future, adding the duo would feed the eastern ethylene pipeline.

“The company also put the Assaluyeh centralized reserves plan to the tender in a bid to store products such as propane, butane, methanol, ammonia, and ethylene for exports,” said the deputy, adding the company had yet to sign contractors.

The NPC Managing Director Gholam-Hossein Nejabat had already announced that China was keen to make a 2.7 billion dollar investment in Olefin 12 plan.

He said the Iranian and Chinese officials held new round of negotiations, whose main topics revolved around a 2.7 billion dollar investment in Olefin 12 plan and investment in downstream and upstream oil projects in Iran. Nejabat said, “China is the first country the Iranian party will pay a visit to hold official talks.”

He added NPC would welcome foreign investments in the petrochemical sector, adding the company was determined to boost its economic cooperation with foreign countries through improving relations with Iranian ambassadors abroad.