Morteza Shahmirzaei, who is also the deputy oil minister, added the industry’s nominal production capacity will soar to around 95 million tons by mid-March 2024.

Talking in a press conference on the 14th Iran Petrochemical Forum (IPF), he said 70 petrochemical complexes having a nominal output capacity of 92 million tons are now producing more than 550 grades of chemical and polymer products.

According to the official, experts, scientists, and industrialists from over 15 countries will attend the 14th Iran Petrochemical Forum, which will be held in Tehran from May 1-2.

IPF ‘a good opportunity’

Shahmirzaei last Wednesday said the forum will provide “a good opportunity” to acquire the world’s modern technical know-how and indigenize technologies.

He made the remarks at the third session of the Executive Working Group on the 14th IPF and added the forum will help the petrochemical industry achieve its specified goals.

He put great emphasis on balanced development and continued, “Iran has manufactured a great number of petrochemical equipment and products and is moving on a path toward self-sufficiency, acquiring technical know-how, and producing catalysts by relying on its scientists and researchers’ knowledge.”

The NPC head added, “We need to promote quality of petrochemical products and produce strategic products to meet the needs of midstream and downstream industries.”

BRICS to meet at forum

The group of Brazil, Russia, India, China and South Africa (BRICS) will for the first time attend the Iran Petrochemical Forum, announced an NPC official last week.

NPC Planning and Development Director Hassan Abbaszadeh added, “The 14th IPF will provide a suitable opportunity for cooperation between domestic and foreign companies.”

The upcoming forum, he continued, will also help Iranian companies introduce their latest achievements and plans and the country’s new opportunities for investment in its petrochemical industry.

Abbaszadeh said the forum will revolve around the completion of value chain and balanced development of the industry.

A number of expert-level sessions will be held during the forum, mentioned the director, adding BRICS members have been scheduled to discuss Iran’s cooperation with the group.