NPC head stresses need to complete value chain for balanced development of petchem industry
Date
11/20/2024 6:43:47 AM
(MENAFN) The head of Iran’s National Petrochemical Company (NPC), Hassan Abbaszadeh, emphasized the importance of completing the value chain and developing complementary industries for the balanced and sustained growth of the country’s petrochemical sector. In a meeting with NPC officials on Monday, Abbaszadeh stressed that all stakeholders in the petrochemical industry must focus on the development of complementary industries, utilizing the existing capacities within the country.
Abbaszadeh highlighted that the development of these industries at the provincial level would not only create jobs but also increase the added value of the sector. He reaffirmed that the National Petrochemical Company is fully prepared to cooperate in this area to ensure the growth of downstream industries.
In his statement, Abbaszadeh pointed out the significant investment opportunities in complementary industries, stating that the diversification of Iran’s petrochemical product portfolio could be achieved through collaboration between holdings and petrochemical companies. He emphasized that Iran possesses ample capacities for investment in these areas.
As part of the country's seventh National Development Plan (2022-2027), Iran aims to increase its petrochemical production capacity by 8 percent to reach 130 million tons. Moreover, the government plans to invest over USD40 billion in the sector during the eighth National Development Plan to further expand the petrochemical industry and complete its value chain.
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