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Iran plans 10mn tons methanol capacity in five years
Jun '14
Iran is planning to have its methanol production capacity increase to 10 million tons in five years, according to Mohammad Hassan Peyvandi, deputy head of the National Petrochemical Company (NPC).
Speaking on the sidelines of the 11th Iran Petrochemical Forum in Tehran, Mr. Peyvandi said Iran plans to speed up the development of its petrochemical industry with a new approach, FARS news agency reported.
He informed that seven methanol projects are already underway in South Pars region with Chinese finance. He estimated that a new project would start production every six months and Iran’s annual methanol production capacity would rise to 10 million tons in five years.
Last year, Iran’s total petrochemical production capacity touched 60 million tons.
The two-day Iran Petrochemical Forum saw participation of 330 Iranian and 50 foreign companies.
At present, Iran’s petrochemical companies have annual capacity to produce 5 million tons of methanol, around 90 percent of which is exported to various countries, including China and India.
Meanwhile, DP Srivastava, Indian Ambassador to Iran, who attended the Forum, said it was an excellent idea to organize such a conference in Tehran attended by both producers and consumers.
On the sidelines of the conference, he said India lacks feedstock and hence it would continue to import petrochemical products from oil and gas rich countries like Iran.

Fibre2fashion News Desk - India

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