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Deputy Oil Minister Highlights Petchem Transformation at IranPlast

Deputy Oil Minister Highlights Petchem Transformation at IranPlast
(Monday, September 18, 2023) 07:37

TEHRAN (NIPNA) -- The Deputy Minister of Petroleum and CEO of the National Petrochemical Company, Morteza Shahmirzaei, emphasized the significant transformation taking place in downstream industries within the petrochemical sector.

Speaking on the sidelines of the 17th IranPlast International Exhibition, he revealed that approximately 28 trillion Iranian Rials' worth of petrochemical products had been sold on credit to downstream industries in the past five months, catalyzing a major shift in their operations.

Shahmirzaei, while visiting the opening day of the 17th IranPlast International Exhibition, stated that the primary objective of this specialized event was to foster collaboration among all stakeholders in the petrochemical industry, from upstream to downstream.

He noted that this year's exhibition has seen a 20-fold increase in foreign guests compared to the previous year, with many investors, industry players, and innovators converging to negotiate and sign contracts within the industry.

Despite sanctions and challenges, Shahmirzaei highlighted the strong presence of 210 foreign companies at the exhibition and emphasized that domestic companies also actively participated in IranPlast. The latest achievements of both domestic and foreign industrialists in the field of petrochemicals were showcased during the event.

Shahmirzaei further discussed a recent initiative to offer credit for petrochemical products to small and medium-sized enterprises, following the signing of an agreement at the 16th IranPlast. He emphasized that the credit sales, totaling approximately 28 trillion Iranian Rials over the past five months, had resulted in the most significant transformation in downstream petrochemical units.

He revealed that around 15,000 to 16,000 industrial units depend on petrochemical products for their operations and can benefit from these credit offerings.

The Deputy Petroleum Minister also mentioned the development of a comprehensive document aimed at completing the value chain in the petrochemical industry and updating the catalyst industry. With the launch of new petrochemical projects ready for inauguration, petrochemical entrepreneurs are prepared to contribute to achieving the goals of the "Inflation Control and Production Growth" year 2023.

Shahmirzaei concluded by emphasizing that, as a result of strategic planning and measures taken by the National Petrochemical Company over the past year, Iranian catalyst exports to other countries and orders for the construction of compressors, various pumps, extruders, and rotating machinery had become significant achievements for the industry.

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