Baghbani highlighted Iran's 2.7% share in the global petrochemical
market and its 30% share in the Middle East, emphasizing the potential for
growth with increased investment and production. "The petrochemical
industry plays a pivotal role in the country's economy by supporting downstream
industries with a diverse range of products," he noted.
In the past year, the sector supplied 12.7 million tons of
petrochemical products domestically, meeting the needs of approximately 15,000
downstream units. Baghbani stressed the importance of shifting towards final
product manufacturing and reducing raw material exports to create greater
value.
"Products such as methanol, ammonia, and propylene should be
further processed into diverse outputs to minimize raw material exports and
enhance value addition in the industry," he said.
Baghbani also discussed the significance of attracting new
investments, revealing that the Seventh Development Plan includes over 60
projects with an average completion rate of 50%, valued at $24 billion. While
half of the required funding has been secured, an additional $12 billion is
needed to complete these initiatives.
Modern technology and skilled human resources are vital for
sustainable growth, he added, emphasizing that domestic capabilities can
facilitate the planned expansion.
He also highlighted the recent inauguration of a wastewater transfer
project to Khorasan Petrochemical, aimed at protecting the environment and
ensuring a sustainable water supply for the facility.
The Iranian petrochemical industry remains committed to advancing its
strategic goals, aligning economic development with environmental stewardship.