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Value-Chain Completion Key in Realization of Petchem Production Leap

Value-Chain Completion Key in Realization of Petchem Production Leap
(Saturday, April 11, 2020) 19:32

TEHRAN (NIPNA) -- The secretary of the Petroleum Industry Equipment Manufacturers Association said: "The leap in the petrochemical production will be achieved by completing the value chain and developing downstream industries."

Mojtaba Eslami, speaking to NIPNA, noted this Iranian calendar year's slogan ("production leap") saying: "This can be achieved in the petrochemical industry through various ways. One of the necessary measures to create a leap in production in this industry is to complete the value chain and develop the downstream petrochemical industries with the aim of creating more value added.”

He added: "Currently, the upstream sector of the petrochemical industry has created favorable employment; while, many firms are active in the downstream petrochemical sector in the country. These firms receive several million tons of feedstock from petrochemical producers annually, which has led to creation of thousands of jobs.”

The official further added that in some parts of the country, it is possible to create industrial complexes based on the development of downstream industries. These units generally require little investment and, if well designed, can be export-oriented. With the provision of infrastructure, the private sector has a strong desire to invest in low-capital petrochemical units, he stressed.

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