Tehran, Iran, Sept. 29
By Milad Fashtami - Trend:
Eight methanol-producing units will come on stream in Iran in the next five years.
Deputy Director of National Petrochemical Company (NPC) Mohammad Hassan Peyvandi said that the units will have the capacity to produce 19 million metric tons per year, Iran's ISNA News Agency reported on September 29.
"Once the units come on stream, Iran will become one of the world's biggest methanol producers," Peyvandi explained
"This will send a great shock to the global market," he said, adding that Iran's current methanol production rate stands at 5 million tons per year.
According to Peyvandi, NPC has requested the Iranian government to allocate $5-10 billion out of the National Development Fund to finish the incomplete petrochemical projects.
"The money will be allocated to projects that are more than 60 percent complete," he said, Iran's IRNA News Agency reported.
He further criticized the process of privatization at the petrochemical industry, saying that the buyers have not fulfilled their obligations.
"Based on article 44 of Constitution, the government can still take part in future investments by 20 percent" he explained, adding that the figure can reach 49 percent in poor regions.
Marzieh Shahedaee, an official with the National Petrochemical Company, said on September 28 that there are ten incomplete petrochemical projects in Iran that will come on stream by the end of the next calendar year (March 20, 2016).
"The projects are currently over 60 percent complete," she said, Iran's IRNA News Agency reported.
"Takht-e Jamshid PVC production unit, the second phase of Kavian Petrochemical Complex, the second phase of Karoun Petrochemical Complex, West Ethylene pipeline, Lorestan Petrochemical Complex, Kurdestan Petrochemical Complex, Ilam Petrochemical Complex, Mahabad Petrochemical Complex, and Hegmataneh Petrochemical Complex are among the mentioned projects," she said.
According to Shahedaee, a total number of 67 incomplete petrochemical projects will be transferred to the country's Sixth Five-year Socio-Economic Development Plan (2016-2020).
"The mentioned 67 projects have the capacity to produce 60 million metric tons per year," she said, adding that the project will come on stream at the cost of $40 billion.
"If the nuclear talks between Tehran and the P5+1 group of countries fail, the development of petrochemical industry will continue slowly," she explained.
Edited by CN