Doha – Mubasher: Industries Qatar (IQ) announced today, Wednesday, February 11, 2015, the official launch ceremony of the QAR 145.5 million ($40 million) carbon dioxide-recovery plant of the group’s fuel additive joint venture, Qafac.

IQ, one of the region’s industrial giants with interests in the production of a wide range of petrochemical, fertiliser and steel products, said that the plant commenced operations in Q3-14, and is the largest of its kind for methanol production in the world.

Designed to capture over 500 MT per day of carbon dioxide and utilise it in the production of methanol, the plant is expected “to not only reduce Qafac’s greenhouse gas emissions, but simultaneously boost the group’s production of methanol by circa 46,000 MT PA”.

Worth noting, the plant was commissioned two months ahead of schedule, according to a statement by IQ, which added that the facility will positively contribute to the Group’s future earnings.