Iran: Petrochemical Plants Iran to Develop World's Biggest Methanol Project

Bloomberg reports that Iran’s Persian Gulf Petrochemical Industries Company is in talks with Asian companies to raise as much as 1 billion Euros ($ 1.1 billion) .

Teheran/Iran — The funds are intended for an expansion including a methanol project intended to serve China and other Asian customers. Reza Mohtashami Pour, head of the Petrochemical Downstream Industries Office, says on the company's website that once new methanol projects come on-stream in Iran, the country will see a boom in production of methanol. Iran is currently developing Kaveh Methanol Plant that is touted as the world's biggest methanol project. Once fully operational, the plant would add 7 million tons of methanol to the country's total petrochemical output, the company claims

Bloomberg reports that an Italian company is “in the forefront” as a potential investor in the company, according to Touraj Seyed Arvanaghi, managing director of Persian Gulf Petrochemical’s Veniran Apadana methanol project in Asaluyeh in western Iran on the Persian Gulf coast.

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