Balanced development and completing the value chain are two main targets of the petrochemical industry which are expected to be attained over the next seven years, Morteza Shahmirzaei said.
Speaking at the opening ceremony of the 6th edition of the Middle East Pharmex Exhibition, he pointed out that balanced development of the industry through the completion of the value chain was one of the strategies of Iran's petrochemical industry.
He further noted that the petrochemical sector should move toward completing the value chain and halting selling unfinished and semi-finished products in line with the Petroleum Ministry policies, adding a very comprehensive document has been provided and notified to this end.
Referring to the six decades of Iran’s petrochemical sector activities, the NPC head reiterated that Iran’s petrochemical sector’s production capacity has surpassed 95 million tons per year with a basket of diversified products.
The petrochemical sector is leading the exports of non-oil products, he said, adding that the sector production capacity will reach 100 million tons annually when 15 petrochemical projects are put into operation before the end of the current Iranian calendar year on March 20, 2025.
Elsewhere in his remarks, he said that Iran had become one of the pillars of producing basic materials and petrochemicals, providing more than 70 to 80 percent of the pharmaceutical industry’s needs for raw materials.
He invited the health sector companies to invest in the petrochemical sector, which can produce further value-added.
MNA/Shana