Talks with Asian companies for loan to produce more methanol Italian company ‘in forefront’ as potential investor Iran’s Persian Gulf Petrochemical Industries Co. is in talks with Asian companies to raise as much as 1 billion euros ($1.1 billion) for an expansion including a methanol project intended to serve China and other Asian customers. An Italian company is “in the forefront” as a potential investor in the company, according to Touraj Seyed Arvanaghi, managing director of Persian Gulf Petrochemical’s Veniran Apadana methanol project in Asaluyeh in western Iran on the Persian Gulf coast. He declined to identify the companies until negotiations are concluded. Iran is looking to attract $60B of foreign investment to upgrade its petrochemical industry. Source: Bloomberg Iran’s petrochemicals industry needs $60 billion in foreign investment to more than double chemicals production capacity over the next decade, according to Marzieh Shahdaei , deputy oil minister and managing […]