NPC CEO: Foreign guests’ strong presence in IranPlast expo means ‘sanctions have no place’ in petchem industry

SHANA (TEHRAN) – Iran’s National Petrochemical Company (NPC) managing director on Sunday said the twentyfold increase in number of foreign participants of the 17th IranPlast International Exhibition means that “economic sanctions and threats have no place” in petrochemical industry.

Addressing the opening ceremony of the exposition, Morteza Shahmirzaei added Iran has started a leaping and transformative move in its petrochemical industry, which creates value and job opportunities and boosts foreign currency inflow.

Iran’s petrochemical output stood at nearly 1.5 million tons in 1977, said the NPC chief, adding the industry’s installed capacity has now topped 92 million tons per year in spite of war and reconstruction of petrochemical plants that on the whole lasted around 15 years.

Shahmirzaei said 150-billion-dollar investment opportunities will be created in upstream, midstream, and downstream sectors of Iran’s petrochemical industry by the end of the country’s 8th Development Plan (2027-2031).

The NPC CEO said Iran will become self-sufficient in producing catalysts by the end of the incumbent government’s term.

Based on the plans, he continued, all products and equipment of this industry will be indigenized.

The 17th IranPlast International Exhibition, which opened at the Tehran International Permanent Fairground in the presence of Iran’s Oil Minister Javad Owji and a number of Iranian and foreign officials and experts, will run through September 20.

According to Farid Dousti, exhibition director, 560 domestic and 210 foreign companies have participated in the exposition.

News ID 630333


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