Contract on methanol production in Iran signed
BAKU, Azerbaijan, September 24
By Elnur Baghishov – Trend:
A contract on the production of methylene from propylene has been signed between Iran’s National Petrochemical Company (NPC) and Fateh Sanat Kimia Company today (September 24), Trend reports citing Shana news agency.
Speaking to reporters after the signing ceremony, Deputy Oil Minister and Executive Director of Iran’s National Petrochemical Company Behzad Mohammadi said that 120,000 tons of methanol will be produced from propylene per year under the contract.
The deputy minister noted the contract was signed to increase methanol production from propylene in Iran, as well as to increase propylene production.
The director added that at present, the plans are being implemented in various regions of Iran, including Asaluyeh, Amirabad, Anzali, Islamabad, to produce methanol from propylene.
"Thus, Iran's ethanol production will reach 4 million tons per year after 5 years (from March 21, 2025, to March 21, 2026)," he said
Iran is implementing two plans to increase the production of petrochemical products. According to the first plan, Iran's petrochemical production will increase from 66 million tons to 100 million tons per year and the revenues from $15 billion to $25 billion until March 20, 2022.
According to the second plan, Iran's petrochemical production will reach 133 million tons per year and the revenues will reach $37 billion by March 20, 2026.
Iran produced 31 million tons of petrochemicals last Iranian year (March 21, 2019 - March 20, 2020). Of these, 8 million tons were sold within the country, and 23 million tons of products were exported. The total sale value was $15 billion.