Pars Petrochemical Company – a wholly owned affiliate of the National Petrochemical Company of Iran – has just awarded Technip-Coflexip and its Iranian partner Nargan, an EPC contract for the design and construction of a low density polyethylene plant for the 9th Olefins Complex at Asaluyeh. This contract, worth about EUR 100 million (Technip-Coflexip’s share), was signed in Teheran on 16 October 2002. Technip-Coflexip and Nargan will carry out the basic and detail engineering, procurement of equipment and materials as well as construction, commissioning and start-up for a 300,000-ton-a-year low density polyethylene unit using Stamicarbon technology. The coming into force of this contract will take place as soon as a multi-source financing involving European export credits is completed. The engineering center of Technip-Coflexip in Lyon, France, will execute the project in collaboration with Nargan, an Iranian engineering company based in Teheran in which Technip-Coflexip has a 20% stake.The completion of the works is scheduled for 34 months after the coming into force of the contract.
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