Money in methanol
17 Jun 2004
Lurgi, the subsidiary of German giant mg technologies, has signed a contract to build a methanol plant in Iran for Zagros Petrochemical.
The new plant will be the second of its kind that Lurgi has built for Zagros Petrochemical at Bandar Assaluye on the Persian Gulf. A Lurgi methanol plant of the same capacity is currently being completed in the immediate vicinity of the new complex.
The order is worth a total of almost 160 million Euros. Lurgi has already received an advance payment of approximately 30 million Euros and has started on the engineering work.
The plant will use Lurgi's 'MegaMethanol' technology to produce around 5,000 tonnes of methanol per day from natural gas starting in 2006.
This is the second large win in the methanol business for Lurgi. At the beginning of May this year, Lurgi signed a contract worth $90 million to build a methanol plant in China.
