We are implementing the First Methanol Plant with PIDEC. We are already working on this project which is the largest methanol plant in the world with a capacity of 5000 tons per day.

Working with NPC, we are expecting to deliver a world-class project to be ready on time and to do very well to the benefit of both sides, Iran in particular.

We have had an excellent partnership with NPC. That is the reason why we are now going beyond just licensing and joint ventures in Iran. We are actually discussing also the licensing of pilot plants and R&D cooperation.

We are implementing a water supply project and also the Third Ethylene Plant for Bandar Imam Petrochemical Complex. We are looking forward to intensifying our business here with Iran and NPC.

I believe among the Mideast countries Iran has the leadership role. We are succeeding in more and more projects unlike the past. Contacts have become easier and smoother since last year.

With the start of the Third Plan in 2000, six other petrochemical projects are being pursued. The predicted amounts of investment in these projects are estimated at $4.9 billion and 12,000 billion rials.

We are fortunate to associate ourselves with NPC. We are insuring their assets and also insuring the projects under construction in the free trade zones.

We have arranged for NPC a financing facility which enables them to source their goods in a number of countries. On that basis, we can provide favorable financing for Iran’s new projects.