Iran, France to sign petchem deal

Business Materials 2 July 2016 17:43 (UTC +04:00)

Baku, Azerbaijan, July 2

By Fatih Karimov – Trend:

Iran’s Bu Ali Sina Petrochemical Plant will sign contracts worth €50 million with two French company in the near future, the company’s managing director, Mohammad Reza Sahebnasagh, said.

The deals which are expected to be signed within one month are aimed at upgrading the ammonia production unit and replacing the molecular sieves at absorption towers of the plant, Sahebnasagh said, SHANA news agency reported July 2.

The units are working for 11 years, meanwhile their useful lifetime is 10 years, he said.

Sahebnasagh noted that his company has been negotiating with the two French companies on the issue for the last five months without unveiling the firms’ names.

Once the predicted upgrading operations carried out, the company’s output capacity will increase by 20 percent, he said.

Under the deals the Iranian company will receive materials, equipment and technical services from the French sides, Sahebnasagh added.

He further said that Bu Ali Sina Petrochemical Plant became operational in 2004 and needs some upgrades after 12 years of non-stop operation.

Bou Ali Sina Petrochemical Company, a local subsidiary of Iran's National Petrochemical Company (NPC) is located at the Petrochemical Special Economic Zone (Petzone) in Bandar Imam, southern Iran. The complex is one of Iran’s biggest petrochemical plants and produces benzene, paraxylene, orthoxylene, light ends, raffinate, LPG, pentene, heavy aromatics, and heavy cuts naphtha.