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Iran Petchem Industry Achieves Milestones: Opening 12 Petrochemical Projects

Iran Petchem Industry Achieves Milestones: Opening 12 Petrochemical Projects
(Saturday, March 16, 2024) 17:40

TEHRAN (NIPNA) -- Deputy Minister of Petroleum and CEO of the National Petrochemical Company highlighted the accomplishments of Iran's petrochemical industry in the calendar year 1402 (which began on March 21, 2023), underscoring the adherence to commitments and significant achievements, including the inauguration of 12 petrochemical projects, production of 75 million tons of petrochemical products, and export of 29 million tons.

In a press briefing, Morteza Shahmirzaei emphasized the pivotal role of media in fostering awareness and elucidating efforts across all sectors of the country. He stated, "Petrochemical industry players across various regions of Iran, from the southern to the northwestern areas, are actively engaged in production, bolstered by the nation's security and strength."

Shahmirzaei continued, "Today, the petrochemical industry has emerged as a leader in production growth and indigenous technology development in the country, contributing significantly to curbing inflation."

Highlighting the success in curbing inflation and increasing sales with a credit supply of 75 trillion Tomans ($17.85 billion) in petrochemical products in the stock and energy markets, Shahmirzaei attributed this achievement to strategic planning and efforts by industry stakeholders.

Regarding the petrochemical industry's performance in production, Shahmirzaei stated that actual production in 1402 exceeded 75 million tons, marking a 7% growth compared to the previous year. However, he noted that the targeted production of 78 million tons was not met due to feedstock shortages and gas imbalances.

Shahmirzaei also addressed the importance of gas collection and the prevention of flaring as a national priority, emphasizing the efforts to utilize associated gases effectively in petrochemical processes.

Furthermore, Shahmirzaei highlighted the importance of optimizing energy consumption management within the organizational structure of the National Petrochemical Company and underscored efforts to curb emissions and reduce energy consumption in the industry.

With regards to environmental conservation, Shahmirzaei mentioned the plantation of one million date palms in the Mahshahr region, aimed at safeguarding the environment and promoting green spaces.

Moreover, Shahmirzaei invited investors to participate in Iran's petrochemical development projects, expressing the company's readiness for collaboration and cooperation.

He concluded by emphasizing the need to utilize all available capacities to attract investment in the country, underscoring the importance of leveraging the nation's potential to achieve economic prosperity.

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