Hossein Hashemi said that five reactors had already been delivered to
the site in Asalouyeh, a special economic zone on the Persian Gulf coast.
He said the project had faced sanctions from European countries in
recent years and had turned to domestic companies and knowledge bases for
One of the reactors, built for the first time in Iran at a factory in
Arak, is for synthesis gas production, which Hashemi called "the beating
heart of petrochemicals".
The Dena Petrochemical complex, which is part of the Petro Farhang
Holding group and affiliated with the Farhangian Reserve Fund, is expected to
be completed and start production by March 2025, he said.
The project has an overall progress of 80% and will produce 1.65
million tonnes of grade A methanol annually, he added.
The complex will use 1.306 billion cubic metres of natural gas and 520
million cubic metres of oxygen as feedstock, supplied from Damavand
The investment for the project is €288 million ($347.04 million) in hard
currency and 4 trillion rials ($95.24 million) in rials, Hashemi said. ($1 =
0.8299 euros) ($1 = 41,990 rials at the free market rate)