Speaking to NIPNA, Bahman Behzadi said the project will be constructed at Petrochemical Special Economic Zone (PETZONE) located in Mahshahr, Khuzestan Province, southwestern Iran.
He said his company is ready for the investment but is anticipating reception of permits from the National Petrochemical Company (NPC) for possession of land in the region.
Fanavaran Petrochemical Complex is Iran's third biggest supplier of methanol after Shiraz and Kharg plants.
The company is the only supplier of acetic acid in Iran.