News ID: 132936
Published: 0717 GMT December 15, 2015

Japan to modernize methanol technology in Iran

Japan to modernize methanol technology in Iran

General Manager of Japan's Marubeni Corporation Masahiro Yamada has announced that his company is in talks with Iranian officials on modernizing the technologies for producing methanol.

Speaking of the sidelines of the 12th Iran Petrochemical Forum (IPF) which was held in Tehran on December 13-14, Yamada further said that in February 2016, Iran's oil and petrochemical industries will return to the position it had before the sanctions, the Japanese official said, reported IRNA.

Noting that trade between Iran and Japan stands at €400 million per annum, he said while markets are suffering from shortage of ethylene, today is a proper opportunity for Iran to return to the global markets because it manufactures 3.5 million tons of ethylene annually that can meet the shortage of that material.

Japan is to invest in Iran's petrochemical industry, he said adding Iran can play a leading role in providing related materials to African countries due to population growth in that continent.

The 12th annual international Iran Petrochemical Forum, which was held with the participation of representatives of 25 countries, was aimed at introducing petrochemical opportunities in Iran.

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