Having been 75% complete, the project is being implemented in the Persian Gulf city of Bandar Dayyer, and is funded by a consortium of Iranian banks of Tejarat, Mellat and Industry and Mine.
The plant is envisaged to process 7,000 tons/day (or two million tons of methanol per annum) of A-A grade methanol.
Earlier in February, deputy head of Iran’s National Petrochemical Company (NPC) Mohammad Hassan Payvandi said the plant's first phase will come online by August and its full operation would be in 2016.
“Given the high capacity of this project, there is good potential for the development of downstream industries,” he said.
Engineering, license and procurement services for the project have been provided by Switzerland’s Casale SA and Iran’s Petrochemical Industries Design and Engineering Company (PIDEC).
Iran is planning to raise its methanol output to 25mt/y within the next five years to gain a toehold in the international market as the biggest supplier of the product.
Tipped as an alternative fuel in ships, the fuel is already used in light aircraft and racing cars and its global demand is rising.
Methanol is seen as a green fuel while being more abundant and cheaper than diesel. It is even preferred over liquefied natural gas (NLG).
Iran currently has a capacity to produce 60 million tons of petrochemicals, which is expected to expand to 180 million tons in the coming years as a number of projects are coming on stream.
Officials say the country is on course to earn as much as $70 billion per year once the projects start production.
15:18 (Saturday, September 05, 2015)
TEHRAN Sept. 05(Shana)—Iran is expected to become the world's biggest methanol producer as Kaveh mega methanol project, touted as the world's largest methanol unit and a rival to US shale gas, is expected to come online by 2016.
Having been 75% complete, the project is being implemented in the Persian Gulf city of Bandar Dayyer, and is funded by a consortium of Iranian banks of Tejarat, Mellat and Industry and Mine.
The plant is envisaged to process 7,000 tons/day (or two million tons of methanol per annum) of A-A grade methanol.
Earlier in February, deputy head of Iran’s National Petrochemical Company (NPC) Mohammad Hassan Payvandi said the plant's first phase will come online by August and its full operation would be in 2016.
“Given the high capacity of this project, there is good potential for the development of downstream industries,” he said.
Engineering, license and procurement services for the project have been provided by Switzerland’s Casale SA and Iran’s Petrochemical Industries Design and Engineering Company (PIDEC).
Iran is planning to raise its methanol output to 25mt/y within the next five years to gain a toehold in the international market as the biggest supplier of the product.
Tipped as an alternative fuel in ships, the fuel is already used in light aircraft and racing cars and its global demand is rising.
Methanol is seen as a green fuel while being more abundant and cheaper than diesel. It is even preferred over liquefied natural gas (NLG).
Iran currently has a capacity to produce 60 million tons of petrochemicals, which is expected to expand to 180 million tons in the coming years as a number of projects are coming on stream.
Officials say the country is on course to earn as much as $70 billion per year once the projects start productio
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