World's largest aromatic project on-schedule in Iran

The world's largest aromatic project is to become operational in the oil-rich southern region of Asalouyeh, Iran, by September - as per schedule. Work on the Fourth Aromatic Project, with an estimated production capacity of 4.5 million tpa, began in 2000. Project costs have totaled to US$913 mln. Under the petrochemical industry's 10-year perspective, US$27 billion has to be invested in the key sector by 2015, when ethylene production will reach 12 mln tons, polymer output will hit 10 million tons, methanol production will increase to 7.5 mln tons while production of chemical fertilizers will hit 8.5 mln tons and aromatic products will amount to 4.5 mln tpa.