Speaking at the opening ceremony of the second PetroChem event on Kish
Island, Mohammad Shariatmadari, CEO of PGPIC, highlighted the strategic
significance of the initiative. “The creation of this fund marks a pivotal step
in fostering innovation and advancing knowledge-based activities in the
industry,” he said.
Commitment to Innovation
Shariatmadari underscored the necessity of leveraging advanced
technologies to achieve Iran’s target of eight percent economic growth. “The
key to accelerated growth lies in embracing cutting-edge innovations and
fostering creativity,” he remarked.
The CEO acknowledged the challenges of localizing technology amid
limited access to international markets. He stressed the importance of
consistent investment in domestic production capabilities and strategic
innovation.
Industry Challenges and Regulatory Needs
Discussing industry challenges, Shariatmadari pointed out the
repercussions of ill-structured privatization efforts, which disrupted value
chains and harmed the sector. He emphasized the need for a robust regulatory
framework to address these issues.
“The absence of effective regulatory oversight has created
uncertainties, particularly regarding supply chains and economic viability of
certain projects,” he noted. Shariatmadari expressed optimism about enhanced
coordination between key industry players, including the National Petrochemical
Company (NPC) and the Ministry of Petroleum.
Strategic Partnerships and Financial Solutions
Highlighting recent discussions with the Minister of Petroleum,
Shariatmadari mentioned promising collaborations to develop the Marun Khami and
Ahvaz Khami oil fields. He also identified financing and feedstock procurement
as critical hurdles for advancing development projects.
With banking sector leaders actively participating in the PetroChem
event, Shariatmadari expressed confidence in the formation of financial
consortia leveraging resources from domestic and international banks, including
institutions in China and Russia.
Market Expansion and Innovation
PGPIC’s market value, estimated at IRR 850 trillion, presents a strong
financial foundation for expanding operations in regions such as Makran and
Kish, Shariatmadari stated. He also announced the issuance of directives to promote
digitalization and efficiency improvements across PGPIC subsidiaries.
Vision for the Future
Shariatmadari praised the dedication of PGPIC’s workforce, expressing
pride in the group’s ability to cultivate world-class managerial talent. “Our
goal is to continuously train and nurture the next generation of industry
leaders,” he concluded.
The PetroChem event serves as a platform to showcase advancements and
collaboration opportunities in Iran’s petrochemical industry, with PGPIC
playing a central role in driving innovation and sustainable growth.