Mohammad Reza Soleimanzadeh told reporters that his company had so far signed nearly 5 trillion Iranian rials of contracts with local firms and knowledge-based companies over the past 10 months of which mostly have reached fruition.

He said many of the items considered in the contracts were to be produced for the first time in the country.

The contracts, the official added, also consider supply of catalysts, chemicals, equipment and spare parts as well.