A contract awarded by the National Petrochemical Company of Iran (NPC) to the French Technip and Iran's Nargan for the design and construction of a one million ton ethylene stream cracker in the 9th Olefin complex has just come into force. The contract, signed in September 2000, was subject to the setting up of a multi-source financing scheme, which was finalized only last week.
Financing for the project is based on export credit facilities from Italy, France and the Netherlands. Delivery is scheduled for July 2003. The $180 million project, designed to produce 305,000 ton of propylene a year will to be set at the Asaluyeh petrochemical complex on the northern coast of the Persian Gulf.
A second NPC deal was finalized with Technip and Nargan in March 2001. The two were selected as engineering and procurement (EP) contractors for a mega-ethylene cracker in the 10th olefin facility. The facility will deliver 1.4 million tons of ethylene a year, and is expected to be launched into operation in the first half of 2002.
Technip will provide its proprietary technologies, furnaces and processes for the production of ethylene performing most of its services from Paris, the Hague and Rome. The Iranian Nargan Company will carry out basic and detail engineering, procurement and supply of equipment and materials, supervision during construction and commissioning and start-up as well as training services.
With a workforce of about 18,000 and annual pro-forma revenues of nearly €4.5 billion, Technio-Coflexip ranks among the top five in the field of oil and petrochemical engineering, construction and services. The company is headquartered in Paris with its main engineering and business centers located in Europe, the United States and Asia and the Far East. — (menareport.com)
© 2001 Mena Report (www.menareport.com)
