Tehran, October 4:

An Iranian company has teamed up with a German firm to commercially convert methanol into propylene for use in the petrochemicals industry. Iran’s Fanavaran Petrochemical Complex has struck a deal with German company Lurgi for the project. The contract to convert methanol into propylene has been finalised and it would be put on tender within the next three or four months to choose the contractor, Jalil Ebrahimpur, managing director of Fanavaran complex said. The construction cost of the project would be around 115 million euros, he said, adding that the process of converting methanol into propylene or vice-versa was being carried out for the first time in the world. Fanavaran Petrochemical Complex and German Lurgi will hold 50 per cent share each in the project, he said.