Iran signs first ever post-sactions petchem contract with Swiss partner
By Fatma Babayeva
Iran has signed its first ever contract with a foreign partner in the petrochemical sector during the post-sanctions period.
Iranian Sadaf Petrochemical Assaluyeh company and Swiss Welding Engineers Ltd. concluded a contract for the construction of a finishing unit of a petrochemical company, Shana news agency reported on June 12.
The Swiss firm will help Iranian company to build a plant for the production of the synthetic polymer ESBR which is a strategic product used in the petrochemical industry and rubber manufacturing, said Ahmad Jazayeri, Managing Director of Sadaf Petrochemical Assaluyeh Company.
Jazayeri noted that the ESBR will be produced for both domestic and foreign markets, including Europe.
Welding Engineers Ltd will be responsible for drying, wrapping and packaging process at the final stage of production of the ESBR before presenting to the market, according to Jazayeri.
As much as 136,000 metric tons of finished products in five categories will be manufactured annually with the launch of this production line. Two types of these products will be used in the production of tires and the rest in the plastic industry.
Iran controls the second largest oil refining capacity in the Middle East region after Saudi Arabia. Its current crude oil refining capacity, including gas condensate, equals almost to 1.8 to 1.85 million barrels per day.
The Islamic Republic envisages boosting its oil refining capacity to 3.2 million barrels a day by 2020.
The country plans to upgrade its refineries in Tabriz, Tehran, Isfahan, and Abadan. It will build three new refineries - Bahmangenoo, Anahita and Pars refineries as well.
In the meantime, Iran plans to decrease gasoline imports to zero in 2016 with the implementation of the first phase of the Persian Gulf Star Refinery, according to the country’s officials.
Previously, Iran expressed an interest in buying shares of existing refineries or building new ones abroad, and held talks with Spain, Indonesia, and Brazil.
The removal of anti-Iran sanctions following a nuke deal signed with the world powers has helped Tehran to pursue a rapid boom in its oil industry.
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Fatma Babayeva is AzerNews’ staff journalist, follow her on Twitter: @Fatma_Babayeva
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