Badri told reporters at the Iran oil and gas exhibition that the company had
completed studies for the project, which would produce vinyl acetate monomer
(VAM), a chemical used in various industries.
"We are now
obtaining the upstream permits for it," he said.
He said VAM was a
product that the country needed and that Fanavaran was the only producer of
acetic acid, a raw material for VAM, in Iran.
between 70,000 and 80,000 tonnes of acetic acid annually and we are trying to
produce the same amount for downstream use," he said.
produces one million tonnes of methanol, acetic acid and carbon monoxide per
year, also has a petrochemical complex under construction that will use a new
technology to produce methanol from natural gas.
"We are now
in the stage of land levelling and moving towards selecting the EPC
contractor," Badri said.
He added that
about 80% to 90% of a petrochemical unit could be built using domestic
capabilities and capacity.
plans to create a methanol park after launching the petrochemical complex, he
has a good future and we will grow day by day with the projects we have in hand
in terms of profitability and income," he said.
international oil, gas and petrochemical exhibition, which runs until Saturday,
is being held under the slogan "Oil industry, technology production and