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NPC Implements $4.2B Self-Sufficiency Projects

NPC Implements $4.2B Self-Sufficiency Projects
(Saturday, November 18, 2023) 15:18

QOM (NIPNA) - Iran's Deputy Petroleum Minister and CEO of the National Petrochemical Company revealed the implementation of national self-sufficiency projects valued at $4.2 billion, aimed at completing the value chain with an annual nominal capacity of 3.8 million tons.

Addressing the initiative on Thursday, Morteza Shahmirzai stated that the National Petrochemical Company, in line with identifying opportunities and introducing investments, has initiated comprehensive studies on the value chain of the petrochemical industry. This has resulted in the formulation of 20 packages of value chain projects covering sub-sectors such as propylene, methanol, ethylene, aromatics, and butylene production.

Shahmirzai emphasized the annual nominal capacity of these projects at 3.8 million tons, highlighting the estimated total investment of $4.2 billion. The projected value of annual production of various downstream products is expected to reach $4.4 billion.

"These projects have been communicated to holdings based on their access to required feedstocks, formulated as national self-sufficiency initiatives. Some holdings have taken proactive steps by obtaining necessary permits for investment," stated the Deputy Petroleum Minister.

The unveiling of these significant projects aligns with Iran's efforts to fortify its petrochemical industry's value chain, thereby fostering self-sufficiency and enhancing downstream product capabilities.

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