As reported by NIPNA, Morteza Shahmirzaei, in an event celebrating the
50th anniversary of Bandar Imam Petrochemical Company, extended congratulations
to engineers, specialists, and especially the workers of the company. He stated
that with the capabilities of these experts, Bandar Imam Petrochemical is
heading toward completing the value chain and diversifying production.
The Deputy Minister of Petroleum emphasized that Iran's petrochemical
industry will become one of the world's most flourishing industries in the
future. He highlighted the country's essential elements for developing this
industry, including abundant feedstock, skilled human resources, and access to
water resources and coastlines.
Shahmirzaei stated that the 20-year growth of the petrochemical
industry, starting from the implementation of the first petrochemical project
in Iran in 1958, was initially modest. The industry had a capacity of about 3
million tons, producing 8 to 9 product types with complete reliance on design,
equipment supply, and commissioning before the Islamic Revolution.
Referring to the fact that global fossil fuel carrier consumption will
be limited by 2050, Shahmirzaei highlighted the need to redirect these
resources, considering Iran's oil and gas reserves, toward the development of
the petrochemical industry. He mentioned that currently, over 550 grades of
petrochemical products are produced in the country, and by the end of the
Eighth Development Plan, Iran's annual petrochemical industry capacity will
surpass 180 million tons.
Regarding foreign investment in the petrochemical industry,
Shahmirzaei expressed support and encouragement but made it clear that Iran
would not wait for foreign companies to develop this industry. He emphasized
that the industry's expansion would be achieved using domestic capabilities.
The NPC CEO, discussing the industry's resilience despite sanctions,
noted that 95% of future industries would be dependent on petrochemical
products. Therefore, the development of this industry is of great importance.
Shahmirzaei revealed that a comprehensive value chain completion
document was unveiled by NPC in 2022, providing a roadmap for investors.
According to the promises made in late 2021, with the efforts of domestic
companies, the reliance on catalysts will be eliminated in the thirteenth
government.
He continued, saying that domestic experts have the capability to
provide equipment for the petrochemical industry in various areas, particularly
compressors, valves, pumps, and various types of turbines. Iran is moving
towards self-sufficiency in this regard.
The Deputy Minister of Petroleum concluded by emphasizing the increase
in investments to gain technical knowledge in the petrochemical industry with
the goal of completing the industry's value chain. He mentioned that 21
strategic products were presented to the holdings by the National Petrochemical
Company last year, bringing the industry closer to the end of the value chain.