"We hope to be able to realize the valuable objectives [in the petrochemical sector] this calendar year and next year for the country in a bid to be able to raise the petrochemical production capacity by at least 45%," Behzad Mohammadi, CEO of National Petrochemical Company (NPC), said during a visit to Tehran's 24th Oil Show.
He added: "That is the most significant issue in the prosperity of the petrochemical industry."
Mohammadi said NPC would follow up on the previously drafted plans to accelerate the development of petrochemical industry.
He added that the country's petrochemical potentialities need to become practical.
Mohammadi said there was sufficient industrial, technical and engineering potential in Iran.
He also said that the government had given the go-ahead for the operation of "inactive petrochemical projects" which are faced with financing challenges.