News Agency - Detail

NPC Procures $8 Billion in Equipment via Domestic Firms

NPC Procures $8 Billion in Equipment via Domestic Firms
(Saturday, December 2, 2023) 15:05

TEHRAN (NIPNA) - Morteza Shahmirzai, the Deputy Minister of Petroleum and CEO of the National Petrochemical Company (NPC) , recently revealed that approximately $8 billion worth of equipment and necessary commodities for petrochemical projects have been secured through domestic companies over the past two years, with a portion constituting first-time manufacturing efforts.

According to a report by Nipna, Shahmirzai emphasized NPC's focus on procuring goods and equipment domestically, stating that about $10 billion has been spent on acquiring equipment and supplies for petrochemical projects, of which over 80%—approximately $8 billion—was provided by local firms. Notably, a portion of this procurement marked the first instances of sourcing goods that were previously obtained from abroad during the thirteenth government term.

Highlighting the national drive for self-sufficiency, Shahmirzai mentioned that nearly 15 types of equipment and apparatus used in the petrochemical industry were domesticated by research-based companies during the thirteenth government term. Presently, a maximum of 90% and a minimum of 40% of petrochemical projects utilize domestically manufactured goods and equipment.

The Deputy Minister of Petroleum praised the commendable capabilities of domestic companies in producing fixed equipment, affirming their valuable contributions. He noted that many Iranian manufacturers are currently providing services to neighboring countries and Southeast Asian nations, with nine Iranian producers being prominent exporters in global markets for major equipment.

Shahmirzai outlined the government's strategies in the petrochemical sector, emphasizing the National Petrochemical Company's pivotal role in completing the value chain, supporting research-based initiatives, fostering local production, and indigenizing catalysts.

He stressed the government's strategic direction in maximizing the utilization of installed capacities in the petrochemical industry through local expertise and domestic manufacturing endeavors.

Email is required
Characters left: 500
Comment is required