Morteza Shahmirzaei added some 15 products and equipment have been manufactured by Iranian knowledge-based companies under the 13th administration.

The incumbent government has invested around $10 billion to provide petrochemical products and equipment, said the NPC CEO, explaining about $8 billion of the investment were funded by domestic companies and some of domestically-developed products were earlier imported.

The deputy oil minister described domestic companies’ expertise as “very appropriate”, adding Iranian manufacturers are rendering services to neighboring and Southeast Asian states.

According to Shahmirzaei, nine Iranian manufacturers are among wholesale exporters.

Touching upon the government’s strategies for the petrochemical sector, he said NPC has given first priority to completing the value chain, supporting knowledge-based firms, and making equipment and catalysts locally.

The 13th administration has put great emphasis on making maximum use of domestic petrochemical know-how and the installed production capacity, Shahmirzaei concluded.