BAKU, Azerbaijan, January 27. Iran’s Petrofarhang Holding has managed to prevent millions of euros from exiting the country by locally manufacturing thirty specialized pieces of equipment for the first time, Javad Zarepour, Executive Director of the business group told reporters, Trend reports.
In a statement to Iranian media, Zarepour explained that items such as methanol synthesis catalysts, high-weight methanol reactors, heat converters, and reformers were produced domestically for the first time. These pieces of equipment were made at the Arak Machine-Building Company.
The official also mentioned that to date, 16 pieces of equipment and supplies have been installed in the company's facilities, while four more are being transported for installation, with an additional four expected to be installed by the end of the year.
Given the country's 12 methanol production companies, he emphasized that this move will save millions of euros in exports each year.
Notably, Iran’s Petrofarhang Holding, established in 2008, operates in the oil, gas, and petrochemical sectors.