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PGPIC CEO Calls for Private Sector Role in Petchem Value Chain

PGPIC CEO Calls for Private Sector Role in Petchem Value Chain
(Tuesday, December 17, 2024) 17:44

TEHRAN (NIPNA) – The private sector must play a key role in completing the petrochemical industry’s value chain to ensure its sustainable growth, the CEO of Persian Gulf Petrochemical Industries Company (PGPIC) said on Tuesday.

Speaking at a press conference during the PetroFan event at the Oil Industry Conference Center in Tehran, Mohammad Shariatmadari highlighted the need for greater private investment and collaboration to drive progress in the sector.

"The petrochemical industry must align itself with global development trends. The growth of industries worldwide is a result of prioritizing research, development, science, technology, and startups," Shariatmadari said.

He noted that PGPIC is committed to green initiatives. "We are taking steps towards addressing environmental concerns and advancing green petrochemical development," he added.

Addressing Key Challenges

Shariatmadari acknowledged significant challenges in the sector, particularly in securing feedstock. "Initial discussions with the government have been positive. During my tenure, I aim to take essential steps to resolve feedstock issues. PGPIC can meet its own feedstock needs and supply other petrochemical units as well, provided a well-structured plan is developed," he said.

Financial constraints were also highlighted as a pressing issue. Shariatmadari noted ongoing negotiations with domestic and international banks to address funding challenges.

PetroFan: A Step Toward Innovation

Shariatmadari underscored the importance of events like PetroFan in advancing innovation and addressing the industry’s needs. "This event is instrumental in identifying and solving challenges. Organized in collaboration with the vice presidency for science and technology, PetroFan represents a pivotal moment for the development of a knowledge-based petrochemical industry," he stated.

Signing of Strategic Agreement

At the conclusion of the press conference, a cooperation agreement was signed between the vice presidency for science, technology, and knowledge-based economy and PGPIC.

The PetroFan 2024 event, themed "The Path to Innovation in the Petrochemical Industry," will be held from December 22 to 24 at the National Iranian Oil Company’s International Conference Center. The event, co-organized by PGPIC and the vice presidency, aims to foster innovation and address technological challenges within the petrochemical sector.

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