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Iran Targets 130M Tons Petchem Capacity Growth

Iran Targets 130M Tons Petchem Capacity Growth
(Sunday, November 24, 2024) 15:29

TEHRAN (NIPNA) - Iran is targeting an increase in petrochemical production capacity to over 130 million tons by the conclusion of its seventh development plan, contingent on the availability of feedstock, a senior oil official announced on Saturday.

Hassan Abbaszadeh, Deputy Petroleum Minister and CEO of the National Petrochemical Company (NPC), emphasized the need to leverage all available resources to achieve this milestone during the inaugural meeting of the “Seventh Development Plan Petrochemical Task Force.”

“The plan’s goals aim to establish a sustainable and balanced petrochemical industry,” Abbaszadeh stated, adding that the initiative focuses on completing value chains and maximizing value-added production across all sectors.

The task force convened to assess legal obligations, monitor ongoing projects, and evaluate the performance of petrochemical complexes. Abbaszadeh underscored the importance of utilizing national potential and infrastructure to meet the plan’s quantitative objectives.

Iran’s petrochemical sector is a cornerstone of its economic strategy, contributing significantly to non-oil exports and industrial development.

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