Abbas Shari-Moqaddam said plans are under way for adding the amount to Iran's petrochemical production capacity within the a few years, while the country will step up activities to bolster its presence in global markets.
He said at least a million dollars is needed for financing projects for production of the amount and converting it into more value added items.
Iran's domestic and foreign markets will demand no more than 16 million tons of methanol annually and the rest of the product will have to be transformed into more value added products inside Iran, said Shari-Moqaddam, who is also deputy petroleum minister in petrochemical affairs.