Lordegan Petrochemical Project Back on Track

Lordegan Petrochemical Project Back on TrackLordegan Petrochemical Project Back on Track

Plans call for speeding up the implementation of petrochemical construction operations by utilizing the full capacity of domestic and foreign potentials.

Speaking on the sidelines of her official visit to the site of Lordegan petrochemical development project, Marzieh Shahdaei, managing director of National Petrochemical Company, added that Lordegan project faced serious challenges for 10 years.

"However, concerted efforts have been made during the last few months to follow the set schedule and the overall trend of progress is promising," ISNA quoted Shahdaei as saying on Saturday.

Noting that all petrochemical plans are monitored regularly, Shahdaei said completing semi-finished initiatives at maximum speed tops NPC's priority list.

"All the required machinery will be purchased from the best international and domestic manufactures not only for this project but also for all ongoing initiatives. Yet, a cautious approach should be adopted in placing orders for the equipment from foreign producers to prevent financial losses," she said.

Elaborating on the importance of transferring state-of-the-art know-how to the country to speed up the completion of petrochemical plans, the official said, “As soon as new project management systems are institutionalized, plans will be developed much faster and that is exactly the objective we are trying to fulfill.”

According to the official, Lordegan's petrochemical development project should gain momentum, for which collaboration between domestic and international experts is necessary.

Stressing on the completion of the value chain and development of petrochemical downstream industries, she also called for expanding the industry in the region as well as conducting feasibility studies to establish supplementary industries with the aim of creating jobs and promoting economic prosperity.

The project includes construction of urea and ammonia units of Lordegan Petrochemical Complex located in the city of Lordegan in Chaharmahal-Bakhtiari Province.

Access to natural gas and water resources, and its location in a suitable area have given the project an added advantage.

Asked about financing petrochemical plans, Shahdaei noted that most of the plans have so far been funded by the Chinese and more Chinese investment in petrochemical projects is “unlikely”.

“Petrochemical projects such as Middle East Kimiay-e Pars Company, Bushehr, Siraf, Lordegan and Masjed Soleiman have found investors from China, but Hengam and Lavan projects have rejected Chinese finance,” she said.

Referring to ongoing talks with European investors, Shahdaei said in order to develop the petrochemical industry, Iran has to attract $5-7 billion in annual investment.