NPC News Bulletin-NPC's year-end results-March 2000

In the Iranian calendar year of 1378 which came to an end on March 20, 2000, NPC produced 11m tons of various petrochemicals worth around $3.5bn and exported 2.9m tons worth $578m. This compares with last year's output of 11.1 m tons and exports of 3.6m tons worth $452m. Kharg Methanol Plant, the first of the NPC's ten new grassroots development projects, came on stream in early 2000. Two other projects, namely paraxylene and MTBE plants, will be operational later in the same year.

These ten projects, targeted to be completed by 2001, constitute phases 1 & 2 of the NPC's five-phase development program known as Strategic Plan which is designed to raise the company's production capacity from the current 13m t/y to over 44m t/y by 2013. Under the country's budget for the year 1379 (2000-2001), NPC has been authorized to borrow up to $1.1bn from foreign sources for implementing its projects.

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