Once full operational, the plant will supply 1.65 million tons of methanol annually.
Most of the equipment and machinery for construction of the plan have so far been supplied and work on the project is on the go.
Also known as the 7th Methanol Project, the plant is being constructed 24/7.
SATA Investment Co. owns 67% of the project's stocks and has so far financed IRR 887b for its completion.
The plant will be fed by 5.1 billion cubic meters of natural gas annually and will get its utilities from Damavand Utility Facility.