Daelim wins contracts for two petrochemical and gas projects in Iran

02-08-99 Daelim industrial engineering and construction company of South Korea has won contracts for the implementation of two petrochemical and gas projects in Iran.
The petrochemical project, which would be implemented in the port city of Imam Khomeyni, south of the country, will cost $ 190 mm. According to South Korean media, this project with an capacity of 350,000 tpy would become operational in two years' time. Ex-im Bank of South Korea will finance $ 88 mm of the cost.
The other project is the construction of a gas refinery, related to the first phase of development of South Pars oil and gas fields, which would be carried out by the South Korean company in co-operation with the organisation for expansion and renovation of Iranian industries.

The gas refinery project is expected to go on-line within three years. According to South Korean officials, implementation of both projects would cost over $ 480 mm.