| Submit your comments on this article |
| Syria-Lebanon-Iran |
| Iran cancels petrochemical deals with Germany, France, SoKorea |
| 2006-04-24 |
| Iran is to cancel a 960-million-euro contract with companies from France, Germany and South Korea to build a new petrochemical plant, an oil ministry report said Monday. The ministry's Shana news agency said the decision was made because local firms were deemed capable of carrying out the work and at a saving. "The Olefin 11 contract will be cancelled and the project is to be implemented by the National Petrochemical Company (NPC) and domestic contractors with a 260-million-euro saving," NPC managing director Asghar Ebrahimi-Asl said. In 2005 Iran awarded the contract to a consortium including Germany's Linde, France's Technip and South Korea's Hyundai. The deal is for the production of 2.4 million tonnes of ethylene per year to feed a national ethylene grid and 11 petrochemical plants. "It is natural that these companies object," Ebrahimi-Asl was quoted as saying, but added that the firms will not be compensated and are only to be paid for the number of hours worked. The move is in line with a promise by hard-line President Mahmoud Ahmadinejad, made after his election win in June 2005, to increase involvement of domestic firms in the energy sector. |
| Posted by:lotp |
| #9 Maybe the Chicoms want to take over and play footsie with the Iranians. Hey, knock yourselves out. Try to get other firms to go into Iran after you screwed the big ones. |
| Posted by: Alaska Paul 2006-04-24 22:29 |
| #8 Also sounded like the companies handed over the bluprints before the cancellations. Suckers. |
| Posted by: ed 2006-04-24 19:10 |
| #7 The US Air Force is very disappointed. |
| Posted by: ed 2006-04-24 19:08 |
| #6 What's the Iranian word for "self reliance"? "the decision was made because local firms were deemed capable of carrying out the work" We'll see |
| Posted by: Flaing Sneger7543 2006-04-24 18:56 |
| #5 Rack'em and stack'em and add them to the standing ATO's. |
| Posted by: Besoeker 2006-04-24 17:12 |
| #4 "...a national ethylene grid and 11 petrochemical plants." Targets!!!!! |
| Posted by: Dave D. 2006-04-24 17:10 |
| #3 I guess that's the end of the oil for bribes program. |
| Posted by: Nimble Spemble 2006-04-24 16:42 |
| #2 The boot you lick is the boot that kicks. |
| Posted by: Besoeker 2006-04-24 16:40 |
| #1 See, even if you bow down like proper dhimmis, you still won't get the reward you hoped for. While I'm sorry about the loss of jobs, this is one fewer deal that Iran could hold over the heads of France, Germany and South Korea to secure their cooperation on matters international. |
| Posted by: trailing wife 2006-04-24 15:10 |