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Employer: Barriers to Petchem Development Must Be Removed

Employer: Barriers to Petchem Development Must Be Removed
(Monday, August 5, 2024) 01:05

TEHRAN (NIPNA) -- The Secretary General of the Petrochemical Employers Association emphasized the need to remove barriers to the development of the petrochemical industry to increase production, announcing the achievement of a production target of 96 million tons of petrochemical products in the third to sixth development plans.

Ahmad Mahdavi-Abhari made these remarks during the opening ceremony of the 15th Iran Petrochemical Forum (IPF).

He stated that the seventh development plan envisions an 8% growth rate and an annual 23% increase in non-oil exports, which includes the petrochemical sector. He noted that the production capacity of the petrochemical industry must increase from the current 96 million tons to 131.5 million tons in the seventh development plan.

He highlighted that the capacity of 96 million tons was achieved between the third and sixth development plans, and a 30% increase in this new plan requires essential infrastructure and conditions to be established by the government, the National Petrochemical Company, and the private sector.

Mahdavi-Abhari stressed the importance of the private sector demonstrating its capabilities, as it has played a significant role thus far. He referenced the signing of ten investment memorandums with the Ministry of Oil aimed at producing 200 million cubic meters of gas daily, which would help secure sustainable feedstock for the industry and address the country's gas imbalance.

He reiterated that sustainable feedstock supply is crucial for the petrochemical sector and welcomed the supportive stance of the fourteenth government toward the private sector. He underscored the significance of the petrochemical industry as a driving force for the country, contributing significantly to foreign exchange earnings and production.

Mahdavi-Abhari noted the need for the petrochemical industry to remain competitive amid sanctions, emphasizing the active involvement of the private sector. He mentioned ongoing efforts to support clean energy projects to secure necessary funding and announced a contract nearing completion to replace ordinary heaters with financing from China.

He concluded by stating that the petrochemical industry, in collaboration with the National Petrochemical Company, is pursuing its objectives logically and without excessive demands to fulfill its role in the national economy.

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