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Phase II of PSEZ to Focus on Value Chain Development

Phase II of PSEZ to Focus on Value Chain Development
(Sunday, December 22, 2024) 16:41

TEHRAN (NIPNA) – Iran’s Petrochemical Special Economic Zone (PSEZ) will undergo its second phase of development, emphasizing balanced growth and value chain completion, according to Hassan Abbaszadeh, Deputy Minister of Petroleum and CEO of the National Petrochemical Company (NPC).

Speaking at a ceremony to inaugurate the new head of the PSEZ organization on Friday, Abbaszadeh highlighted the strategic role of the petrochemical industry in driving Iran’s economic and industrial development. “Guided by the Supreme Leader’s call to move away from crude sales and prioritize value chain completion, the petrochemical sector has leveraged its full potential for balanced growth,” he said.

Capacity Growth and Key Projects

Abbaszadeh noted that Iran’s petrochemical production capacity has reached approximately 100 million tons annually. Under the 7th Development Plan, the country aims to expand this capacity by 30 million tons, bringing it to 131 million tons.

The deputy minister underscored the significance of Mahshahr and the PSEZ as major hubs of petrochemical activity, producing essential and versatile products for domestic consumption. He also highlighted the upcoming NGL3100 project, which will play a critical role in supplying feedstock to the PSEZ.

New Leadership and Local Engagement

During the ceremony, Abbaszadeh introduced Mohammadreza Motiri as the new acting head of the PSEZ organization, succeeding Payam Barzegar. Emphasizing Motiri’s local roots, he called for cooperation and synergy between the new leadership and regional stakeholders to ensure a seamless transition.

“Selecting a manager from the local community brings advantages but also greater challenges,” Abbaszadeh said, urging local managers and officials to collaborate with the new leadership.

Social Responsibility and Private Investment

Abbaszadeh stressed the importance of private sector investment in developing the petrochemical industry. He called for a conducive environment to attract investors and reduce unnecessary restrictions. He also urged petrochemical companies in the PSEZ to fulfill their social responsibility commitments and engage actively with the local community.

Economic Impact and Expansion

The second phase of the PSEZ is set to double the zone’s size, fostering economic growth and job creation in the region. Abbaszadeh emphasized that the PSEZ is ready to collaborate with governmental and private entities to maximize its capacity and ensure the well-being of local communities.

Voices from Stakeholders

Amir Hayat Moqaddam, a member of parliament representing Mahshahr, reiterated the need to prioritize local employment and expedite the PSEZ expansion. “Petrochemical companies must take employment and social responsibilities seriously and act on their commitments,” he said.

Outgoing PSEZ director Payam Barzegar highlighted significant achievements during his tenure, including advancements in infrastructure, innovation, environmental sustainability, and social responsibility initiatives. He noted that a people-centered approach had been firmly established in the region.

Incoming head Mohammadreza Motiri pledged to foster unity and cooperation to achieve transformative growth in the PSEZ. “We aim to implement strategic plans in a spirit of solidarity,” he said.

The PSEZ’s development aligns with national objectives to reduce dependency on raw material exports, strengthen local economies, and position Iran as a regional petrochemical leader.

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