TEHRAN, Oct 30 (Shana) – Managing Director of Jam Petrochemical Company Hossein Mir-Afzali says Iran should confront Saudi dumping in Petrochemical market.
Mir-Afzali told a press conference on Sunday that increase in price of different kinds of petrochemical feedstock, especially ethane, has created problem for competitivity in the world petrochemical markets.
He said any new decisions to change prices of petrochemical feedstock will make investment in the petrochemical industry less attractive.
He noted that regarding increase in price of liquid and gas feedstock, has brought profit of the petrochemical industry to less than the banking interest rate and at about 16 percent, resulting in capital flight.
He announced that Saudi Arabia whose petrochemical industry’s comparative advantage is less than that of Iran, has been capable to make extensive investment and have petrochemical products’ market under its control.
Source : Shana
about Jam Petrochemical Company:
Jam Petrochemical Company (private joint stock) got registered under No. 32285 in Companies Registration Department in Aug 30, 2000. The legal personality of the company was altered from’ the private joint stock to the public joint stock’ on the basis of extraordinary general meeting dated Sep 15, 2008. At present, JPC owns about %75 of the total shares of Jam Polypropylene Company and %100 shares of Sana’t-karan Jam Company with sum 4800 billion RLS. As per approval of board of directors, the execution of tenth Olefin project from the plans of the third five-year development plan for development of petrochemical industries in pre-utilization stage was bestowed to Jam Petrochemical Company (private Joint Stock) since Aug 30, 2000. In order to achieve some goals of the industrial development of Iran, the main targets and objectives of the plan have been listed as follow:
- boosting financial income as well as promotion of scientific, technical, economical and social knowledge level of the country;
- Development of oil export and petrochemical products and increasing the relative market share in regional and global market;
- Optimum utilization of hydrocarbon resources and thus leading to creation of more added value;
- Promotion of technical knowledge level in engineering and equipment manufacturing field ;
- Job creation to soar employment levels ;
- Enhancement of national executive power.
Based on of the final investigation of the approved budget, the total investment on administration of the overall project has been estimated to hit $1585 million dollars and Rls 11185 billion (Iranian domestic currency)
