Swiss Firm to Develop Petrochem Project

Swiss Firm to Develop Petrochem ProjectSwiss Firm to Develop Petrochem Project

Switzerland's Welding Engineers Ltd, a Swiss engineering and manufacturing company, signed an agreement last week to develop Sadaf Petrochemical Asaluyeh Company's production line.

The Geneva-based company will develop the final stage of Sadaf Petrochemical's production line that will include dewatering and packaging the company's products for sale and export, IRNA reported on Sunday.

Sadaf Petrochemical's main product is synthetic rubber, known as ESBR, which is largely used to manufacture tires and industrial rubber goods for automotive industry. Welding Engineers will implement the project under the supervision of Versalis S.p.A., a chemical company affiliated to Italian oil and gas giant Eni.

The deal is part of efforts to put Iran's petrochemical industry back on the global map. Iran's nominal petrochemical production capacity is close to 60 million tons a year, with annual output standing at 40.5 million tons, 44.5 million tons and 45.6 million tons over the past three years. The volume is expected to reach 50 million tons this year.

Iran also plans to double its production capacity by 2020 and raise it to 180 million tons a year in a decade.