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Petchem Product Credit Offering Boosts Production

Petchem Product Credit Offering Boosts Production
(Monday, February 19, 2024) 15:15

TEHRAN (NIPNA) -- Deputy Oil Minister and CEO of the National Petrochemical Company (NPC) stated that the strategy of offering credit for petrochemical products has led to increased production and market stability, emphasizing the need for alignment and unity among companies.

Mortaza Shahmirzai made these remarks on Monday (February 19) during the first session of the Scientific-Industrial Policy-Making Council (CDIE), stating, "Supporting domestic production and enhancing the activities of downstream industries are important strategies for the National Petrochemical Company in the thirteenth government."

He highlighted, "In addition to supplying raw materials and feedstock required by downstream and complementary industries, which have shown significant growth this year, the implementation of the strategy of offering credit for petrochemical products has resulted in increased production, creating security and stability in the market."

The CEO of the National Petrochemical Company stated, "Alignment and interaction among active companies in the petrochemical downstream industries can lead to market coherence and stability, and companies should not seek intermediary profits."

Mortaza Shahmirzai, while emphasizing the need for innovation and research in the field of the country's downstream industries, added, "Fortunately, with the cooperation and efforts of companies and industries in meeting their technological needs domestically, we are witnessing the country's self-sufficiency in technical knowledge."

He added, "Attention should be paid to the balanced development and completion of the value chain by complementary petrochemical industries to meet the diverse production needs of various sectors of downstream industries."

According to NIPNA, the first Scientific-Industrial Event, CDIE2024, is scheduled to be held on May 16th and 17th, 2024, with the participation of the Food and Drug Administration, the Ministry of Industry, Mine, and Trade, as well as stakeholders in the cleaning and cosmetics industries.

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