Iran to build 3 new petrochemical complexes
IRNA - Islamic Republic News Agency
Tehran, Nov 14, IRNA
Iran-Petrochemical Complexes
A contract has been inked for construction of three petrochemical complexes, valued at one billion euros, Deputy Oil Minister for Petrochemical Affairs Gholam-Hossein Nejabat announced Tuesday.
The National Petrochemical Company (NPC) and Iran's Hampa Company have signed the deal for the construction of the Lordegan, Golestan, and Zanjan petrochemical complexes, PIN quoted Nejabat as saying.
The complexes will produce 3 million tons of urea and nitrogen fertilizers per annum, he said.
He went on to say that the output will be for domestic consumption, adding that the Oil Stabilization Fund (OSF) will finance construction of the plants.
The complexes will boost annual output of urea and nitrogen fertilizers when they come on stream in March 2008.
When 13 petrochemical plants come into operation by the end of the current Iranian calendar year (March 19, 2008), the country's annual petrochemical output will surpass 27 million tons, the deputy minister noted.
Nejabat put the NPC's current Iranian calendar year revenue at dlrs 8.3 billion so far, a rise of dlrs 3.5 billion compared to the figure for the preceding year.
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