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Iran Petchem Sector Boosts Active Diplomacy with Timely Project Completions

Iran Petchem Sector Boosts Active Diplomacy with Timely Project Completions
(Saturday, July 27, 2024) 14:42

TEHRAN (NIPNA) - The Deputy Petroleum Minister and CEO of the National Petrochemical Company emphasized the enhancement of Iran’s active diplomacy through the accelerated implementation and timely completion of petrochemical projects.

Morteza Shahmirzaei highlighted, during the inauguration of the first phase of the Pad Jam Petrochemical project in Assaluyeh, the significance of self-sufficiency in petrochemical product production as a key policy of the 13th administration.

He mentioned that the administration’s strategy in the petrochemical sector aims to eliminate dependency on foreign goods and equipment within five years.

Shahmirzaei announced Iran’s achievement of self-sufficiency in catalyst production, marking a milestone 115 years after the discovery of oil in the country. The catalyst self-sufficiency celebration is set to occur this summer, a year ahead of schedule, fulfilling a promise made by the current administration.

Currently, 99 catalysts are produced domestically, playing a crucial role in various petrochemical industry processes. Shahmirzaei noted that Iran has reached the pinnacle of product production with these advancements.

Pad Jam Polymer Project Realized After 14-Year Halt

Shahmirzaei described the Pad Jam Petrochemical project as one of the long-standing stalled initiatives in the petrochemical industry, now realized through the dedicated efforts of Iranian youth. After a 14-year pause, the project has come to fruition through a revolutionary and zealous approach.

He mentioned that 130 small and large petrochemical projects are underway nationwide, with 15 expected to commence production by the end of this year.

The Deputy Oil Minister characterized the rapid execution of petrochemical projects as a transformative movement within the industry. He stressed that the successful operation of these projects will convert the nation’s dependency into strength, thereby enhancing Iran’s bargaining power in diplomatic arenas and significantly contributing to foreign exchange earnings.

Shahmirzaei heralded the inauguration of the first phase of the Pad Jam Petrochemical project as a major achievement for the petrochemical industry. The products of this project will complete the production cycle and reduce Iran’s automotive industry’s reliance on foreign imports.

He further explained that the petrochemical industry’s strategy includes sourcing parts from knowledge-based companies and universities, and attracting idle domestic investments. Shahmirzaei expressed confidence that empowering local youth and specialists can lead to significant accomplishments in the country.

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