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Iran Eye Lucrative Petchem Investment Opportunity in Development Plan

Iran Eye Lucrative Petchem Investment Opportunity in Development Plan
(Tuesday, November 14, 2023) 15:58

TEHRAN (NIPNA) -- The CEO of the Special Petrochemical Economic Zone highlighted a substantial investment opportunity across more than 3,300 hectares of land in the Development and Hope scheme.

During the specialized panel discussing innovative investment strategies in the oil industry at the Kish Inoex 2023 exhibition, the CEO emphasized the nation's trajectory toward knowledge-based advancements, with an increasing focus on innovation-oriented initiatives.

The CEO, continuing the dialogue, stressed the necessity to leverage knowledge for greater value addition in the industry.

"In support of knowledge-based ventures, we have devised special incentive packages such as the allocation of land with a 72-month installment plan. Additionally, two innovation factories are under construction to minimize costs for knowledge-based and technology companies, aiming to bridge the gap between these entities and major petrochemical producers," the Chairman of the Special Petrochemical Economic Zone's Board of Directors affirmed.

Discussing the strategic goals set to attract investors and enhance the value chain of petrochemical products, he underscored the significance of the Pharmaceutical City, which, holding 63% of the raw materials necessary for producing effective pharmaceuticals within the economic zone, presents a substantial opportunity for the country's pharmaceutical manufacturers. Additionally, the Chemical City within the special zone is specifically designed to produce chemical products required by petrochemical companies.

Asserting the anticipated profitability of the Development and Hope scheme within the Special Petrochemical Economic Zone, covering 3,300 hectares adjacent to the current economic zone, the Chairman elaborated on the zone's advantageous positioning. Access to open waters and ports, railways, airports, feed and product transmission lines, desalination facilities, and its location within the North-South international corridor collectively present a significant opportunity for investment across the upstream, midstream, and especially downstream sectors of the petrochemical industry.

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