Environmentally responsible

On the sidelines of the contract signing ceremony of an NPC's gas separation plant, which was awarded to Germany's Linde in September 2000, Aldo Belloni, a member of the Executive Board of Linde talked to NPC News Bulletin.


In the past two years, Linde won the contracts for the NPC's two world scale ethylene facilities and two gas recovery plants. Aldo Belloni told NPC News Bulletin that Linde was delighted to have the contracts concluded with NPC. He believes, "not only the size but also the quality of the contracts, in terms of technology and importance for the overall development program of NPC is very interesting to us".

Amazed by the rapid pace that the NPC's projects are realized, he said, "2 years ago we could not believe that so many projects would be launched, tendered, awarded and implemented in such rapid sequences. Now, of course, we have recognized that NPC really means business. I am amazed at the number, the complicity and the size of the projects which His Excellency Mr. Nematzadeh has been able to successfully launch and realize". Linde eyes to contribute to several other NPC projects in the future. Belloni said that Linde's technologies for natural gas processing, hydrogen purification, oxygen and ethylene glycol plants are the company's primary goals in contributing to the NPC's projects. "When NPC floats tenders for such projects Linde will bid for them" he underscored.

Comparing Iran's petrochemical industry with other countries in the Middle East, Belloni highlighted some of the advantages Iran can offer. Said he, "I think that the feedstock basis of Iran is as good enough if not better due to natural gas reserves than the basis of other countries in the Middle East. The fact is that you are now building these new wave of projects, using the latest technologies, the best technologies available, should also contribute to enhance the competitiveness of the Iranian Petrochemical industry. You have the advantage of a very strong domestic market; you have a large population; you have access to Central Asian economies in the Caspian region. This is another competitive advantage that I see. I would encourage NPC to continue to pursue also the policy of building joint venture with European companies; chemical companies, because this would secure for the NPC access to the big markets in Europe. So I'm very enthusiastic about the position of NPC in the petrochemical industry."

Looking at the present investment phase for the petrochemical projects in Iran, Belloni said, "we have proven from the very beginning that for the projects in Iran one should follow the path of financing, secured and backed by expert credit insurance agencies (ECA's) from countries like Germany and Italy first". He thinks as the result of this exercise, "we've paved the way now for subsequent projects. It was much easy to secure the second financing package for the Marun project even though this package was much more substantial in terms of dollars". He believes Linde has now identified a very efficient and very successful setup for financing the NPC's projects.

Linde has taken the same path for the gas separation plant whose contract was signed on September 6, 2000 between NPC and Linde. "So there will also be the same approach to this contract which we've signed today meaning that we will have a German bank syndicating the financing package most likely in two countries; Germany and Italy and we will have the ECA's of these two respective countries, that is; Hermes in Germany and SACE in Italy", Belloni explained.