Industry Briefs

PetrochemicalsIran's National Petrochemical Co.and Elenac GMBH, Kehl, Germany, signed a letter of intent to jointly build and operate a 300,000 tonne/year low-density polyethylene plant at an olefins complex to be built at Bandar Imam, Iran (OGJ, Aug. 16, 1999, p. 61). Elenac will provide its high-pressure tubular reactor technology. The plant will be owned 55% by Elenac-a 50-50 joint venture of BASF AG and Shell Chemical-and 45% by NPC. Start-up is slated for 2003.Gas distributionPotomac Capital Investment Corp.(PCI), an unregulated unit of Potomac Electric Power Co., Washington, DC, acquired 17 natural gas transmission and distribution networks from four Dutch municipality-owned busi...

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