Baku, Azerbaijan, Oct. 24
By Fatih Karimov – Trend
Iran’s petrochemical officials have held negotiations with the US-based UOP Company to resume cooperation in petrochemical industry.
The two parties held talks on the sidelines of the trade fair for plastics and rubber which is ongoing in Germany’s Dusseldorf, Iran's Association of Petrochemical Industry Corporation (APIC) reported.
The talks were focused on providing finance and modern technologies for Iran’s petrochemical industry.
The issue of constructing new petrochemical units and licensing new petrochemical projects as well as transfer of know-how and technology in particular in the field of polypropylene production, converting methanol to ethylene and polymer, MTO (Methanol-to-olefins petrochemical technology) and propane dehydrogenation (PDH), were discussed during the meeting, according to the APIC.
The talks come amid Iran’s plans to increase its polypropylene production capacity to four million tons by 2020 and eight million tons by 2025.
The country’s polypropylene production capacity was 965,000 tons in 2013.
UOP is a multi-national company developing and delivering technology to the petroleum refining, gas processing, petrochemical production, and major manufacturing industries.
Last year Michael Millard, senior vice-president and general manager of catalysts, absorbents and specialities in UOP expressed interest to resume cooperation with Iran.
“We have not been involved in Iran for about twenty years and we don’t know much about the industry. A lot of technology in Iran is UOP based,” he said.