Official: Agreement with Shell to be finalized soon

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Managing Director of Maroon Petrochemical Company (MPC) Rahim Sharif Mousavi said on Monday that engineering agreement with Shell Company will be finalized in coming weeks.

He pointed to planning of the company to execute two new plans, including Ethylene Oxide project, and said that for engineering sector of the two plans, the MPC had negotiated with Dutch-Shell Company and two other Italian companies, like “ Techno-Mount”, and now is in convening contract process.

He added that it is possible the engineering contract with Shell to be finalized in the coming weeks and new plans of the MPC to be started.

Already director of investment department of National Petrochemical Industries Company Hossein Alimorad had said the company is negotiating with known European company with the aim to transfer technology and the agreement is the outcome of Joint Comprehensive Plan of Action (JCPOA) and is to be signed soon.

He said that the agreement with the European company is in the field of participation in creating joint license in domestic projects, which has plenty of applicants.

Iran petrochemicals products capacity is around 62 million tons now, but by inaugurating seven new plans it will increase to 72 million tons.

It is planned that the capacity will exceed 120 million tons at the end of the sixth development plan and such goal needs $50 to $80 billion dollars investment.

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