Iran expects petrochemical revenues to reach $ 6 bn

Feb 24, 2004 01:00 AM

President Mohammad Khatami said that Iran’s revenues from the petrochemical industry is expected to reach $ 6 bn, half of which will be earned from exports.
Addressing a group of officials in charge of oil, gas and petrochemicals sectors, President Khatami said the value of petrochemical products is expected to rise to $ 2.5 bn from $ 1 bn, half of which will come from exports. Khatami said that Iran has managed to achieve the revenues by harnessing unused gases and related liquefied products, thus earning further value-added.

President Khatami, who inaugurated an LNG 1200 and LNG 1300 gas projects in this southern Iranian city, said efforts should be made to develop the national oil and gas industries given the fact that the country is the seventh major oil and second major gas producer.
Turning to the LNG 1200 and LNG 1300 plants, Khatami said the two had come on stream in a short period of time, marking a big success for the Islamic state. He said two more projects, including an oil, gas and petrochemical equipment manufacturing firm, costing $ 200 bn, and a pipeline project for transfer of gas from Asalouyeh (Bushehr province) to western part of the country through Gachsaran, will be implemented in Kohkilouyeh-Boyerahmad province. He added that the budget for the next Iranian year (starting March 20) envisages a credit of $ 300 mm pl$ 200 mm in finance for the pipeline project.

Elsewhere in his remarks, Khatami said six petrochemical projects will be implemented in six provinces and relatively poorer regions, including Gachsaran, Khorramabad (Lorestan province), Kermanshah, Sanandaj (Kurdestan), Mahabad (West Azerbaijan) and Chaharmahal-Bakhtiari province.
He also pointed to a road construction project that will connect the provincial city of Yasouj to key points in the country. He also said construction of a cement firm and a phosphate mineral field in the provincial city of Dehdasht will be on agenda. The president then awarded the experts involved in the LNG 1200 and LNG 1300 projects.

Meanwhile, President Khatami inaugurated a reservoir dam in Gachsaran. Minister of Energy Habibollah Bitaraf said the project, costing more than $ 600 bn, had a storage capacity of 480 mm cm of water to meet drinking water shortage for a population of more than 2,400,000 in the southern part of Gachsaran.
The concrete dam of “Kowsar” is 144 meters high, with its crest rising to 190 meters. It will irrigate more than 2,000 hectares of farmland. Operations on the project began in 1995.

Source: IRNA
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