(MENAFN) Iran's Persian Gulf Petrochemical Industries Co. is recently in talks with Asian firms to raise almost USD1.1bn for an expansion scheme, including methanol project.
In addition, Touraj Seyad Arvanaqi, managing director of methanol project, named an Italian firm as a potential investor in the company.
Moreover, the country's petrochemicals industry needs USD60bn in foreign investment to more than double chemicals production capacity over the next decade.
Accordingly, the Veniran Apadan is aiming to produce 1.65mn tons of methanol a year for export to China and other parts of Asia.
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