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Deputy Min. Outlines NPC Plans

Deputy Min. Outlines NPC Plans
(Tuesday, March 29, 2022) 23:29

TEHRAN (NIPNA) -- The CEO of the National Petrochemical Company (NPC) announced the realization of the production plan of the petrochemical industry for the previous calendar year, which ended on March 20, and said: "The NPC status has become much stronger after privatization and can be more dynamic today than before, provided more precise planning, monitoring and control."

In an exclusive interview with Shana, Morteza Shahmirzaei said: "The development policies of the petrochemical industry are not and should not be subject to administrations and political tastes; any industrial development program that is based on science and expertise and away from tendencies and prejudices must be continued.”

He considered the revision of petrochemical industry development plans that have not been developed or have not been done based on expert studies as one of the priorities of the National Petrochemical Company and stressed that the red carpet should be spread for investors and industrialists of the petrochemical industry.

Shahmirzaei also touched on the readiness of the National Petrochemical Company to bolster its international ties: "Whether the Vienna talks succeed or not, the general space for foreign investors to join Iran's petrochemical industry has been prepared and preparations have been made to increase international interactions in the petrochemical industry."

He said development of the value chain of the petrochemical industry in order to produce the items needed by the country and prevent imports is the most important plan of the 13th administration in the development of the petrochemical industry.

The NPC CEO went on to add that 68 petrochemical projects are planned for the 7th Development Plan, which require a total of about $36 billion in investment, of which $8 billion to $8.5 billion has been invested so far, with an average progress of 31 to 32 percent.

“Fortunately, there are good conditions for providing the financial resources, while we see favorable conditions in terms of international space. Since petrochemical projects are implemented by the private sector and holdings, and holdings are capable groups that invest in implementation of projects from their income and profits due to continuous production, so we estimate that there is no particular problem in terms of finances,” he said.

The concern is to raise more capital for the 8th Development Plan projects, which require about $50 billion in investment, and a large number of value chain products will be produced in these projects. The plans of the 8th Development Plan will be completed from 2027 to 2032 if the seventh plan projects are not extended, the official went on to add.

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