Speaking at the opening ceremony of the second Iran Petrochem Conference and Exhibition (Iran Petrochem 2025) on Saturday, Mohammad Shariatmadari said the Petrofen and Iran Petrochem events complement each other.

He noted that these events will be impactful if they move beyond being mere conferences and exhibitions and instead provide national solutions for the industry.

Shariatmadari highlighted the goal of achieving 8% economic growth and the petrochemical industry’s critical role in meeting this target.

He stated that the shortcut to this growth lies in relying on a technology-based economy and advancing toward the cutting edge of innovation.

“We must move toward creative innovations, and this event can help us in this direction,” he said.

The PGPIC CEO stressed that while domestic production is prioritized during times of technological restrictions, it often receives less attention during periods of openness.

“We must consistently think and act on domestic production. Pioneering innovation should be our strategy,” he added.

Shariatmadari revealed that the PGPIC board of directors has approved the establishment of a corporate venture capital (CVC) fund worth 1 trillion tomans ($12.5 million) to encourage innovative activities.

He also announced that 2% of the sales revenue of subsidiary companies will be allocated to development projects under a new directive.

He expressed satisfaction with the appointment of Abbaszadeh, a veteran expert in the petrochemical industry, to senior management positions, including as head of the National Petrochemical Company.

Shariatmadari expressed hope that the regulatory role of the National Petrochemical Company would be effectively revived.

Development of Maroon Khami , Ahvaz Khami fields

Shariatmadari also reported positive and constructive negotiations with the oil minister regarding the Persian Gulf Holding’s cooperation in developing the Maroon Khami and Ahvaz Khami fields.

He identified financing and feedstock supply as two major challenges for executing development projects.

Highlighting the strong presence of the banking sector at the Iran Petrochem event, Shariatmadari suggested that with the expertise of bank CEOs and the involvement of Chinese and Russian banks, banking consortia could be formed to address financing challenges in the petrochemical industry.

He pointed to the 850 trillion tomans ($10.5 billion) market value of the Persian Gulf Petrochemical Industries Company in the capital market, stating that this could serve as a financial backbone for petrochemical projects, potentially enabling the creation of another Assaluyeh in Makoran or development activities in Kish.

The PGPIC CEO emphasized the importance of safety, standards, and technological advancement for the industry.

He announced that a smartization directive has been issued for companies under the Persian Gulf Holding, aimed at reducing production costs and increasing productivity.