Tehran, PIN, 04/04/2010

TEHRAN - Shana: Completion and exploitation of 11 petrochemical projects are among the National Iranian Petrochemical Company priorities during the current Iranian calendar year 1389 (started on 21 March), Abdolhosain Bayat, NIPC managing director announced here on Sunday.

Public Relations department of the National Iranian Petrochemical Company quoted Mr. Bayat as saying at a NIPC board of directors meeting that in the year 1389, which has been dubbed "Double endeavor, Double work", 11 petrochemical projects will be completed and come on stream.

Concerning providing credits to implement the projects, Mr. Bayat said that NIPC have signed Memorandum of Understanding with some domestic banks in order to implement 30 new projects and expressed hope the MoUs translate into contracts.

According to NIPC managing director in the year named "Double endeavor, Double work", petrochemical plants will use their full capacity to increase output.

Late last year (1388) six petrochemical projects in Assaloyeh region in Bushehr province, with 2 billion dollars investment, started operations to increase petrochemical production capacity by more than three million tons.