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NPC CEO: No Place for sanctions in Iran's petrochemical industry

NPC CEO: No Place for sanctions in Iran's petrochemical industry
(Monday, September 18, 2023) 11:46

TEHRAN (NIPNA) -- "The 20-fold increase in the number of foreign guests at the 17th Iranplast exhibition means that threats and economic sanctions have no place in this industry and that we have crossed these boundaries", said the CEO of the National Petrochemical Industry Company(NPC), adding "the value-creating, job-creating and currency-creating petrochemical industry is a leaping and revolutionary movement".

At the opening ceremony of the 17th Iranplast International Exhibition, Morteza Shahmirzaei, welcoming the vice president, ministers of petroleum and industry, mining and trade, ambassadors and members of parliament, CEOs of holdings and petrochemical companies and all petrochemical industry activists, stated that in the Last 44 years, Iran's petrochemical industry was a dependent industry in the supply of goods and equipment, chemicals and catalysts, and even the operation of units. 

"The actual production of the petrochemical industry in 1978 was about 1.5 million tons, but today, despite the fact that the country was involved in the imposed war and the reconstruction of petrochemical units for about 15 years, the installed capacity of the petrochemical industry has reached over 92 million tons/year of which 1.1 mbd is used as feed for petrochemical complexes", he added. 

The CEO of the National Petrochemical Industry Company pointed to the activity of 67 production complexes and three auxiliary service complexes in the country and said: "Our vision for the future is very stunning and attractive, and the 7th development plan is prepared last year and the 8th one has now been finalized; $150 billion investment opportunity in Iran's petrochemical industry on the horizon of the end of the 8th development plan includes different up, mid ,and downstream sectors of the industry". 

"We signed memorandum of understanding with Iran Small Industries and Industrial Towns of Iran last year based on which the petrochemical companies started credit sales of petrochemical products in the commodity exchange for downstream units, a 280 thousand billion IRR worth of credit sales in the last 5 months", stated Shahmirzaei. 

Emphasizing again that the value-creating, job-creating, currency-creating petrochemical industry has started a leaping and transformational movement, Shahmirzaei clarified that the petrochemical industry is a green one and 35% of the petrochemical industrial space is green space.  

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