Mehdi Hamidi put the value of produced methanol at 300 million dollars, adding Zagros Petrochemical Complex was producing at 100 percent capacity with a daily 5,000 ton of methanol output.

He said the first package of methanol of Zagros Petrochemical Complex was exported late last March, adding the Southeast Asian states of India, China, South Korea, and the Philippines and all European countries were the main clients of Iran.

Hamidi said the Methanol No. 2 of the plant would come on stream in the first half of next Iranian calendar year (March 20 to Sept. 21, 2008).

He added the pre-commissioning of the second unit that had made a 95 physical progress started.

“When the second unit is put into operation, Zagros Petrochemical Complex will produce 1.65 million tons of methanol per annum,” said the official, adding the investment for the construction of the second unit would reach 135 million dollars.

“With a 3.3 million ton production capacity, Zagros Petrochemical Complex is the world’s largest methanol producer,” Hamidi said.

The managing director added the complex had been set up in Pars Special Economic Energy Zone (PSEEZ) – known as Assalouyeh – to have easy access to feedstock.

Hamidi said the plant was set up in 2000 within the framework of the Third Five-Year Economic Development Plan, aiming to produce 1.65 million tons of methanol per annum.

Iran’s National Petrochemical Company (NPC) awarded the engineering and supply contract for its Methanol No. 4 project to Germany’s Lurgi Oel.Gas.Chemie GmbH and Iran’s Petrochemical Industries Design and Engineering Company (PIDEC) in 2000, according to the NPC News Bulletin.

The contract covers the provision of license, basic engineering, supply of equipment and technical assistance for the plant. Lurgi use its state-of-the art technology, gas cooled methanol reactor for the project.

PIDEC, Lurgi’s partner to the project, provided the detailed engineering and the equipment that are manufactured in Iran.

Zagros Petrochemical Company (ZPC), an NPC subsidiary, implemented and operated the project.

“Based on statistics, the world’s annual methanol output stand at 50 million tons,” said Hamidi, adding Iran accounted for 5.3 percent of global methanol production with a 1,750 ton output per year.

He added Methanol No. 4 project would help Iran increase its output to 5.05 million tons annually, 10.1 percent of the world’s production.

Zagros Petrochemical Complex chief said 325 million dollars had been invested for the construction of the complex.

He added petrochemical projects of the complex were implemented in a parcel of land with a 30 ha area, of which 15 ha was allotted to the first phase of Methanol No. 4 project.

Hamidi said the second phase of methanol development plan was underway in a 15 ha land.

Iran exported 6.48 million tons of petrochemical products from March 21 to Dec. 21, 2007.

The exports fetched the country 3.84 billion dollars.

Liquefied gas had the lion’s share in exports, weighing 1.787 million tons.

The total value of export-bound petrochemical products is predicted to reach five billion dollars by next March.