VINACHEM

SINGAPORE (ICIS)--Iran’s Petrochemical Commercial Co (PCC) is planning to establish five new bonded warehouses in China by the end of March to facilitate its polyethylene (PE) and polypropylene (PP) exports to that market, a company source said on Tuesday.

The new bonded warehouses would be located at the ports of Dalian, Zhangjiagang, Ningbo, Xiamen and Huangpu, the source said.

PCC was expected to export more PE and PP to China after its new bonded warehouses become operational, he said.

PCC exports PE and PP produced by Iran’s state-owned National Petrochemical Co (NPC) and private Iranian companies such as Amir Kabir Petrochemical. PCC exported around 660,000 tonnes of PE and 42,000 tonnes of PP to China last year, the source added.

Iran exported a total of 871,525 tonnes of PE and PP to China in 2010, 60% more than the 544,299 tonnes exported in the same period a year earlier, according to data from China Customs.

The other Iranian producers that export PE and PP to China are Arak Petrochemical and Jam Polypropylene Co (JPPC).