This announcement underscores Iran's commitment to
fostering international collaboration and expanding its petrochemical sector.
Shahmirzai made the declaration during a signing
ceremony for a memorandum of understanding on technical knowledge exchange and
the execution of the Fanavaran Petro-Olefin Project with a consortium of
He emphasized that this agreement marks the beginning
of future collaborations between Iran's petrochemical industry and Chinese
enterprises under the umbrella of Tamin Petroleum and Petrochemicals Investment
Company (abbreviated as TAPPICO).
Highlighting the vast investment potential in Iran's
petrochemical sector, Shahmirzai stated, "Approximately $150 billion in
investment opportunities within Iran's petrochemical industry are emerging for
the next ten years."
He further encouraged neighboring and like-minded
countries to consider partnerships with Iran for investment, technology
development, and knowledge transfer.
Referring to the longstanding cooperation between
Iran and China, Shahmirzai commended the Chinese government and companies for
not succumbing to the influence of unilateral international policies.
Shahmirzai continued by saying, "Chinese
companies can engage in fruitful collaborations in Iran's petrochemical
development projects, particularly in the hubs of Mahshahr, Asaluyeh, Jask, and
He emphasized that the National Petrochemical
Company's policy is to indigenize all technical knowledge, catalysts, and
equipment in the petrochemical industry.
Shahmirzai clarified that the memorandum of
understanding signed today is aligned with this policy and aims to expedite
industrial development and complete the value chain.
According to the report, the tripartite memorandum of
understanding for technical knowledge exchange and the Fanavaran Petro-Olefin Project
was signed today in the presence of Morteza Shahmirzai, CEO of the National
Petrochemical Company, the acting head of Fanavaran Petro-Olefin, and the
Chinese consortium. This agreement, structured as an EPC+F (Engineering,
Procurement, Construction, and Financing) collaboration, pertains to the Fanavaran
Petro-Olefin Project, encompassing four major units: methanol, olefins,
polypropylene (PP), and high-density polyethylene (HDPE).