Shana -- Iran's Marjan Petrochemical Plant has signed a contract with a German company for preselling methanol, the plant's managing director said.

According to National Petrochemical Company (NPC), Hassan Beigi said his company has signed a deal with a major European company for preselling methanol.

This is while countdown has started for official inauguration of the plant.

Marjan Petrochemical Complex is 96% complete and its methanol production will begin before end of the current calendar year to March 20, he said.

Beigi further added that based on the deal, all the construction expenses of the plant will return in a matter of two years.

"Marjan is the first petrochemical project that has managed to secure a presale deal with a European company," he added.

Once operational, the plant will operate at 1.650 million tons of methanol production capacity.

Kaveh, Bushehr and Marjan are three major petrochemical plants Iran has planned to launch this calendar year.