Iran submits petrochemical value chain projects for NDF financing

(MENAFN) Hassan Abbaszadeh, the director for planning and development in Iran’s National Petrochemical Company (NPC), has announced that the value chain projects in the petrochemical industry have been identified and introduced to the National Development Fund (NDF) for financing. He stated that agreements in principle for these projects have been issued, and most have been introduced to petrochemical holdings, with only a few exceptions.

Morteza Shahmirzaei, the managing director of NPC, emphasized that completing the petrochemical value chain is not just a slogan but a top priority and an essential duty of the NPC’s activities. He reiterated the commitment to rapidly developing the industry from basic products to the end of the value chain during the 13th government. “Completing the value chain of the petrochemical industry is not a slogan; it is an inviolable strategy, a task, plan, and duty that my colleagues are following up with all their efforts,” Shahmirzaei stated.

Abbaszadeh further highlighted Iran's strides towards self-sufficiency in the petrochemical sector, encompassing both products and equipment. Iran's petrochemical industry accounts for 28 percent of the region's capacity and 2.7 percent of the global capacity. Shahmirzaei also noted the significant development of energy diplomacy under the 13th government, with successful progress in offshore petrochemical industries and expanding relations with neighboring and aligned countries. This expansion has led to increased demand from other countries for Iran’s catalysts, equipment, and machinery.

As of mid-May, over 97 petrochemical facilities are operational across Iran. Shahmirzaei pointed out the remarkable growth in the industry, which had only six petrochemical complexes at the time of the 1979 Islamic Revolution. Today, Iran produces around 550 different types of petrochemical products, each contributing to the development of various parts of the Iranian industry. This diversification and self-sufficiency reflect the substantial progress made in Iran’s petrochemical sector over the past 45 years.

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