Germany signs deal to buy Iranian methanol

News ID: 4077155 -
TEHRAN, Sep. 03 (MNA) – An official said a major German company has inked a pre-sale agreement with Iran’s Marjan Petrochemical Complex which will soon come on stream.

CEO of Marjan Petrochemical Complex Hassan Beigi said construction of the facility, situated in Iran’s hydrocarbon hub of Asaluyeh, was 96% through and was therefore on the eve of operation.

“The newly-signed deal supplies the necessary fund for completion of the project as well as that Return on investment (ROI) will be realized within only two years,” he continued.

The official stated that Marjan would mark the first petrochemical company to have sealed a contract for sales of products with European companies.

Given implementation of six new projects, the annual output volume for Iran’s petrochemical products will have risen to 72 million tons worth 17 billion dollars by the end of the current Iranian calendar year (began March 21).

Marjan Petrochemical Complex, which receives its feedstock from South Pars refineries, will enjoys an annual output capacity of 1.65 million tons of methanol.

Two additional methanol facilities, the first phase of Bushehr Petrochemical Co. and Kaveh Petrochemical Co. as the largest methanol project in Iran and the Middle East, are expected to be inaugurated in the coming months for the country’s methanol production to experience a twofold increase hitting 10 million tons per year.

Exports volume for Iranian petrochemical product climbed from 12.8 million tons in 2012 to as much as 20.4 million tons in 2015.

In the meantime, petrochemical industry’s output capacity rose by over five million tons thanks to implementation of nine new projects.

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