Iran launches new methanol complex at PSEEZ
Date
6/26/2024 9:43:29 AM
(MENAFN) On June 24, the Arian Methanol Petrochemical complex commenced operations in Iran's Pars Special Economic energy Zone (PSEEZ). The project, which involved an investment of USD243 million, was inaugurated through a videoconference attended by the acting president Mohammad Mokhber and Oil Minister Javad Oji. Situated on seven hectares of land in Assaluyeh, southern Iran, this complex marks a significant addition to the country's petrochemical infrastructure.
The Arian Methanol Petrochemical complex boasts an impressive annual production capacity of 1.65 million tons of products. It utilizes a substantial amount of natural gas and oxygen as feedstock, specifically 1,531 million standard cubic meters of natural gas and 671 million standard cubic meters of oxygen. This large-scale operation is a testament to the significant industrial capabilities of the region.
Funded by Bakhtar Group's investment, the complex directly creates jobs for 300 individuals, contributing to the local economy and the broader petrochemical sector. The economic impact of the complex is further underscored by its potential to generate an estimated USD280 million in annual revenue.
The PSEEZ is renowned for housing numerous petrochemical complexes that utilize feedstock from the South Pars gas field, a colossal gas reserve that Iran shares with Qatar in the Persian Gulf. This zone is a pivotal hub for Iran’s exports of key non-oil commodities, including gas condensate and various petrochemical products, thus playing a crucial role in the country's economic landscape.
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