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Iran Petchem Industry Supports Pharmaceutical Sector with 27 Complexes

Iran Petchem Industry Supports Pharmaceutical Sector with 27 Complexes
(Wednesday, August 23, 2023) 23:32

TEHRAN (NIPNA) -- Iran's Deputy Minister of Petroleum and the CEO of the National Petrochemical Company announced that 27 petrochemical complexes are contributing to the country's pharmaceutical industry by supplying essential raw materials.

Morteza Shahmirzaei, Iran's Deputy Minister of Petroleum, revealed that 27 petrochemical companies, utilizing their robust production capacities, are aiding the domestic pharmaceutical industry by ensuring the provision of critical raw materials.

Speaking at the inauguration of the Middle East Pharmex International Exhibition, Shahmirzaei stated, "On the eighth day of Dey (December), the petroleum industry will mark its sixtieth year as a value-creating, economy-boosting, and employment-generating sector."

Shahmirzaei further emphasized that the Ministry of Petroleum and the National Petrochemical Company's policies focus on catering to various industries' needs, particularly the pharmaceutical sector. Collaborative efforts with scientific and research centers have yielded substantial progress, contributing to self-reliance, economic independence, and the strategic autonomy of the medical and pharmaceutical sectors for the nation's development.

He elaborated, "Today, a substantial portion of Iran's non-oil exports are facilitated by petrochemical companies. As global demand for diverse petrochemical products surges, Iran's petrochemical industry is rapidly diversifying its production portfolio."

The CEO of the National Petrochemical Company continued, "Our trajectory in the petrochemical industry emphasizes value addition and the completion of the value chain, aimed at reducing raw material exports. If raw materials are transformed into finished products, we will not only fulfill domestic needs but also witness a transformation in export growth and the procurement of necessary foreign exchange for the country."

Shahmirzaei highlighted the pharmaceutical industry's strategic significance in any nation's health sector. He underscored the importance of domestic production infrastructure in the pharmaceutical supply chain as a key indicator of health and national development. He affirmed that primary materials for pharmaceuticals are supplied through four sectors: petrochemicals, biotechnology, plant-based sources, and human-derived products.

"The petrochemical industry's support for the pharmaceutical sector"

The CEO of the National Petrochemical Company added, "Methanol, acetic acid, caustic soda, toluene, and ammonia are the five main groups of foundational materials utilized in the pharmaceutical industry, produced and supplied by petrochemical companies."

In accordance with the Iranian Pharmaceutical Syndicate's requirements, Shahmirzaei disclosed that 27 petrochemical complexes contribute to 21 foundational petrochemical products. "Currently, a considerable portion of Iran's non-oil exports are facilitated by petrochemical companies."

Shahmirzaei referred to the formulation of the Value Chain Completion Document for Iran's petrochemical industry and stated, "Our approach in this industry centers on producing final products and completing the value chain to maximize value addition. In this regard, the Petrochemical Research and Technology Company, Research Institute of Petroleum Industry, technology parks, scientific centers, universities, and research institutions have all played pivotal roles."

He affirmed that by the end of the thirteenth administration, all catalysts utilized in the petrochemical industry would be domestically manufactured. He added, "The Iranian nation has chosen a steadfast path and high-level goals. Through the dedication of industry players, technical expertise, raw materials, products, and equipment, the petrochemical industry will be cultivated domestically."

Shahmirzaei extended an invitation to all interested parties to invest in Iran's petrochemical industry, highlighting the nation's status as a global innovator. With more than 100 developmental projects in the industry, the National Petrochemical Company is poised to regulate, steer, and support investors as the orchestrator of this field.

"Strategic Projects and National Self-Reliance"

The CEO of the National Petrochemical Company elucidated, "Twenty-one strategic industry projects have been communicated to the holdings, and 19 projects have been identified in the Parsian region. The value chain for methanol can be completed with the aim of reducing raw material exports and producing end products."

Shahmirzaei underscored the pivotal role of domestic manufacturers in shaping new initiatives and noted, "Domestication of compressors and extruders in the petrochemical industry has led to several countries expressing readiness to purchase these critical equipment."

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