Baku, Azerbaijan, Aug. 8
By Emil Ilgar – Trend:
Iran’s National Petrochemical Company (NPC) and Petrochemical Research and Technology Company (NPC-RT) signed a memorandum of understanding (MoU) with French Air Liquide to establish a joint venture license for engineering and development of a 500-ton per year methanol-to-propylene production unit, NPC’s official website reported Aug.10.
According to the report, the French company would transfer required technology to Iran.
Iran's Oil Minister Bijan Namdar Zanganeh said Aug. 8 that, the ministry has envisaged plans to implement 68 petrochemical projects by attracting $67 billion in investments.
Iran’s nominal petrochemical products volume reached above 60 million tons per year and Iran plans to double this volume in next five years. The volume is projected to reach 150 million tons per year by 2025.