Kaveh Petchem Plant 94% Complete

Kaveh Petchem Plant 94% Complete
(Tuesday, January 17, 2017) 17:09

TEHRAN (NIPNA) -- Physical progress of Kaveh Petrochemical Plant, touted as the world's largest methanol unit and a rival to US shale gas, is nearly 93.41.

 

The plant is being constructed to process 7,000 tons/day (or two million tons of methanol per annum) of A-A grade methanol. The project is in its final stages and will come online in the near future.

A consortium of Iranian banks Tejarat, Mellat, and Industry and Mine have financed the project which was previously expected to come online by 2016. 

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.
Email is required
Characters left: 500
Comment is required