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CEO: Investment in Completing Value Chain a Strategic Imperative

CEO: Investment in Completing Value Chain a Strategic Imperative
(Tuesday, May 7, 2024) 18:08

LAMERD (NIPNA) - The Deputy Minister of Petroleum and CEO of the National Petrochemical Company underscored the importance of investment in completing the value chain in the petrochemical industry, characterizing it as a vital endeavor, and expressed firm support for investors, particularly indigenous investors, in developing the petrochemical industry in the Lamerd Special Economic Zone.

During a visit to assess the latest status of petrochemical projects in the Lamerd Special Economic Zone on Monday, Morteza Shahmirzaei, the Deputy Minister of Petroleum and CEO of the National Petrochemical Company, addressed a gathering of managers, officials, and Lamerd representatives in the Islamic Consultative Assembly.

Shahmirzaei stated, "The National Petrochemical Company, as the representative of the government, strongly supports the presence of investors, especially local investors, in the Lamerd Special Economic Zone to establish petrochemical facilities with the aim of completing the value chain."

He highlighted the favorable infrastructure, ease of feedstock procurement, transportation advantages for petrochemical products, and access to export markets as potential advantages of the Lamerd Special Economic Zone for establishing petrochemical industries and promoting downstream and complementary industries.

Furthermore, Shahmirzaei announced the formation of a committee within the National Petrochemical Company to develop investment packages and review the necessary permits for establishing petrochemical units in the Lamerd region.

Emphasizing that the development of the petrochemical industry in Lamerd would strictly adhere to laws, regulations, and environmental principles, he added, "We must refrain from crude sales and earnestly move towards producing final products to witness the country's development."

"The investment in completing the value chain is considered a strategic imperative because we are determined to take balanced steps towards the development of the petrochemical industry in the year of production leap and people's participation," Shahmirzaei concluded.

Following his two-day trip, Shahmirzaei is set to visit petrochemical projects in the Parsian Energy Zone today. He had visited petrochemical projects in the Kangan region yesterday, where he conducted specialized-technical meetings with project managers and executives to review the operational process, developments, and progress of these development projects.

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