Danish catalysis and process technology company Haldor Topsoe has signed a contract with Badr-e-Shargh Petrochemical Complex for a new methanol plant in Chabahar, Iran. It will be the first plant in the area’s new industrial zone.

Topsoe will supply licenses, engineering, proprietary equipment, materials and catalyst. No further details of the project were divulged.

At the same time, Topsoe said it would open permanent offices in Tehran. Per Bakkerud, executive vice president of Topsoe’s chemical business and the Europe, Middle East, Africa region, said the company was eager to resume its working relationship with Iran where abundant natural resources would likely guarantee a blooming petrochemical business.

The Tehran office will be led by managing director Jens Ole Madsen, who has worked for many years with Topsoe.

Economic sanctions against Iran were lifted last month following a landmark deal last July when it agreed to curtail its nuclear activities. The move will unfreeze billions of dollars of assets and allow companies to resume business with the country.