Bazian highlighted that this industry has brought
in more than $50 billion in hard currency for the country in the last five
years and has played a crucial role in supporting Iran's economy during times
of international sanctions.
Bazian pointed out that Iran's first
petrochemical complex was established in Fars province in 1955, and today, the
country's petrochemical industry has an installed capacity of 92 million tons,
which is expected to increase to 95 million tons by the March 2024.
The CEO of Shasta Company also stated that this
capacity could be increased one and a half to two times in the intermediate
perspective to bring balanced development to the upstream, intermediate, and
However, Bazian acknowledged that Iran's
petrochemical industry faces challenges that need to be addressed to maintain
its value-creating role in the country's economy.
He emphasized the importance of solving these
challenges and redesigning the architecture of the sector to rely on the
country's capabilities and opportunities.
The CEO of Shasta Company also stressed the need
for strategic planning to improve Iran's position in the region and the
He called for everyone's participation and paying
more attention to the capital market for the development of petrochemical
Bazian highlighted that the value chain of Iran's
petrochemical industry is one of the most important value chains in the
country's production process, and its effectiveness for Iran's economy is
evident from the significant hard currency it has brought in for the country in