According to NPC, Hassan Abbaszadeh made the remarks Wednesday during the official inauguration of the Kimia Sanaye Dalahoo and Kimia Sanaye PetroEntekhab Isfahan petrochemical complexes.

He provided an update on the implementation of petrochemical projects, noting that the industry and its partners have achieved satisfactory progress under the Seventh Development Plan. “In the first year of the plan, the entire petrochemical sector met 100% of its targeted goals,” he said.

Abbaszadeh said that the operation of 19 petrochemical projects and the supply of feedstock for projects planned in the second year of the Seventh Development Plan, 2025, had been forecasted. “Fortunately, nine of these projects were completed in the first six months, though they have not yet officially started operations. In addition, several major projects are in pre-startup phases and are expected to be operational by year-end,” he said.

Private Sector Accounts for 15% of $92b Investment

The CEO addressed investment trends in the industry, noting that out of approximately $92 billion invested in petrochemicals since the industry’s inception, the private sector’s share has been only around 15%.

He added that even this 15% participation is significant. “The Entekhab Group is a notable example of a successful private investor. The group previously completed a major project and is now adding two new production units to its portfolio.”

Abbaszadeh highlighted the group’s $700 million investment in a PDH project, developed in cooperation with the Plan and Budget Organization under a structured financing framework, and said investment in this project is progressing rapidly. Private groups like Entekhab have entered the petrochemical sector strategically, starting with downstream operations and independently producing the products they need.

Entekhab Products Exported to Europe

Abbaszadeh said the group has successfully exported products to Europe and established a professional, competitive presence in international markets. He praised its continuous efforts to maximize productivity while minimizing costs and expressed hope for further successes in the future.

Addressing challenges for private investment, Abbaszadeh noted that long administrative processes and bureaucracy are major obstacles. “Unlike large management funds that can endure lengthy procedures, private investors cannot, and it is natural for them to expect faster decision-making and obstacle removal after committing capital,” he said.

He emphasized that facilitating private sector participation is a priority in the development of the petrochemical industry. “Attracting real private investment is a key policy, strongly supported by the Leader, the president, and the oil minister. We must address the challenges of the private sector and support them to make their investment journey smoother,” Abbaszadeh said.

The Kimia Sanaye Dalahoo project, with an annual production capacity of 120,000 tons of standard and high-impact polystyrene, was launched with an investment of $56 million. The Kimia Sanaye PetroEntekhab Isfahan polystyrene project, with an annual production capacity of 50,000 tons of standard polystyrene, began operations with a $32 million investment. The inaugurations were attended by Mohammad Jafar Qaem-Panah, Executive Vice President, and Hassan Abbaszadeh, Deputy Oil Minister for Petrochemicals, in Bushehr province.