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Contracts signed for development of Iranian petchem industry
The deals were signed on Monday in a ceremony attended by Morteza Shahmirzaei, the managing director of the National Petrochemical Company (NPC), Shana reported.
The NPC CEO said that Iran’s industrial capacity for production of petrochemicals will reach above 100 million tons per year (mpta) this calendar year (to end on March 20, 2025).
He added that some 13 petrochemical plants or new units in existing factories will be opened in Iran until the end of the year to late March.
Shahmirzaei said current output capacity of Iran’s petrochemical sector is around 96 mpta in 80 plants, adding that the equivalent of 1.7 million barrels per day of oil is used as feedstock in the sector.
He said more than 85% of the equipment and material used in the Iranian petrochemical plants are sourced from domestic suppliers, adding that the industry will become completely self-sufficient in the next five years by relying on the know-how of local startups and technology firms.
The official, who also serves as a deputy Iranian oil minister, said that Iran is currently exporting various types of technologically-complicated catalysts used in the petrochemical industry, adding that many of those devices have been developed and manufactured inside Iran in the past three years.
Shahmirzaei made the remarks in a speech delivered at the opening of the 18th edition of IranPlast, a major international exhibition held by the NPC which attracts hundreds of companies from Iran and around the world.
A sum of 288 foreign firms and 525 companies from Iran are represented at IRAN PLAST 2024.
Some 150 business representatives are also present at the fair as part of delegations from 12 countries to hold talks and sign deals with Iranian and foreign counterparts.