Iran’s NPC, Chinese company mull methanol JV in Iran

20 September 2010 04:59  [Source: ICIS news]

TEHRAN (ICIS)--Iran’s National Petrochemical Company (NPC) and a Chinese company are in talks to set up a joint venture methanol plant in Iran, an industry source said on Sunday.

Under the proposed joint venture, the Chinese company would provide financing and equipment for building a methanol plant in Iran, and be compensated with a free off-take contract for a number of years, the source said.

The recent commercialisation of methanol-to-olefins (MTO) and methanol-to-propylene technologies in China had made methanol an attractive feedstock for China, and Iran's vast natural gas reserves were a natural fit with China's priorities, he said.

If the venture materialises, the Chinese partner would use the methanol produced in Iran to make olefins and propylene in China through the MTO and MTP processes, he said.

With additional reporting by Prema Viswanathan

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