NPC Inks MoUs to Complete Petrochemical Value Chain: CEO
TEHRAN (Tasnim) – The chief executive of Iran’s National Petrochemical Company (NPC) announced the signing of memoranda of understanding (MoUs) worth tens of billions of dollars in order to complete the value chain of the petrochemical sector.
Speaking in a news conference on the sidelines of the 17th edition of the International IRAN PLAST Exhibition in Tehran on Tuesday, Morteza Shahmirzaei put the annual production capacity of Iran’s petrochemical industry at 92 million tons.
Planning has been made for indigenizing 100 percent of the catalysts needed in the country’s petrochemical industry and for this purpose, memoranda of understanding, valued at tens of billions of dollars, have been inked, he said.
The deputy oil minister pointed to the compilation of the 7th Five-Year Socioeconomic and Cultural Development Plan in the petrochemical industry and noted that the developmental plans were launched with the cooperation and investment of holdings and private companies to complete the value chain.
Today, over 500 products are produced and supplied in the petrochemical industry of the country, Shahmirzaei added.
Talks are underway with foreign countries in the field of constructing and exporting technical-engineering services, he stated.
The NPC chief pointed out that Iran sold $16 billion worth of petrochemical products in 2022.