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It is reported that three petrochemical projects in Iran have almost completed their construction work and will be ready to run by March 2016. These three projects belong to Kavian Petrochemical (Phase 2), Lorestan Petrochemical and Takht-E Jamshid Petrochemical Company.

Lorestan Petrochemical will be having 300,000 tpa LLDPE plant, Kavian Petrochemical (Phase 2) mainly focus on the upstream market and when phase 2 project come on line, it will produce approximate 2 million tons of ethylene per annum. Meanwhile, Takht-E Jamshid Petrochemical Company will make 30,000 tons of SBR and 18,000 tons of PBR.

There are nine other petrochemical projects in Iran, which reportedly will come online by 2016. Iran is aggressively looking to regain lost international market share due to sanctions imposed on its nuclear agenda. Many petchem companies are now in talk with overseas authorities to open branch offices in order to penetrate the market faster.

Meanwhile in India, at least four polyethylene (PE) plants are scheduled to start commercial operation in the year of 2016. In fact, market reported that Reliance has commenced the trial run at its new PE plant this week.

These new projects will reduce the dependency of India on import for PE; however, market does not expect any significant surplus in term of supply as demand for this product in India is growing in a very healthy pace. 

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