TEHRAN (PIN) – The second phase of methanol unit of Zagros Petrochemical Company has made over 92 percent progress and will become operational by the end of current Iranian calendar year (March 20, 2008).

The unit is to produce 1.65 million tons of methanol per annum.

Methanol is used in downstream industries for producing different types of glues, resins, plastics, utensils, kitchenware, cameras, switches, and outlets, and acetic acid.

According to statistics, some 50 million tons of methanol is produced in the world per year and Iran is producing 1.5 percent of the world’s output – 1.75 million tons yearly.

When the methanol projects of Zagros Petrochemical Company are put into operation, Iran’s annual output will reach 5.05 million tons, i.e. 9.15 percent of the world’s production.

By early May, Zagros Petrochemical Company exported more than 100 thousand tons of methanol.

According to the company, its first package weighing 13,500 tons was exported to India.

In addition, eight vessels having 10, 15, and 20 thousand ton capacities shipped the company’s product to the European, Far Eastern states (Taiwan and Korea), China, and India.

The last methanol consignment amounting to 10 thousand tons was destined to China.

The exports fetched Iran 25 million dollars, said the company, adding it would produce more than one million tons of methanol by next March.

Petrochemical products accounted for the highest share of non-oil goods Iran exported in the past Iranian calendar year (March 21, 2006 to March 20, 2007).

Totally 42.2 percent of the weight and 38.6 percent of the value of exported non-oil products belonged to petrochemicals.

The country exported 14,236,800 tons of petrochemical products, valued at 6.11 billion dollars, during the yearlong period, showing 115.5 and 140.8 percent increases in terms of weight and worth respectively when compared to those in their preceding year.

According to the Customs Administration, gas liquids (propane, butane), polyethylene, methanol, benzene, and different types of tar were the main petrochemicals exported abroad as they constituted 81 percent of the revenues fetched by petrochemical products.

Iran’s petrochemical products have been sold to more than 250 clients from 40 states.

The country’s petrochemical production is expected to touch 98 million tons per annum by the end of Iranian calendar year 1394 (March 20, 2015).

Iran plans to sell 75 tons of the predicted output.

According to the estimate, Iran needs to invest 27 billion dollars to achieve the goal and the products will earn the country 25 billion dollars per year.

Iran is expected to be the first country in the region by March 2015 that will produce ethylene, methanol, and BTX.

During the period, domestic petrochemical complexes are predicted to produce at least 12 million tons of ethylene, 10 million tons of polymer, 10 million tons of urea, 14 million tons of methanol, and 4 million tons of BTX.