During a press briefing at the Iran Expo 2025 on the second day of the
exhibition, Bazyar reviewed the company’s performance over the past year,
noting the challenges faced, including significant limitations. Despite these
obstacles, he expressed optimism about the upcoming year, citing expectations
for breakthroughs in development, supported by new investors and policy
coordination in the industrial sector.
Bazyar highlighted that approximately 17% of Iran’s petrochemical
development projects are handled by Shastan Group, making it one of the top
three petrochemical holdings in the country. The company has a significant
presence in the Assaluyeh and Chabahar regions.
“Chabahar is the future of Shastan’s development. We are concentrating
our growth efforts in this area and will allocate a larger share of our
investments there,” Bazyar said, referring to Chabahar’s strategic location as
a gateway connecting three continents. He underscored Shastan's commitment not
only to expanding its own operations but also to fostering growth in other
industries and contributing to the regional development.
In addition, Bazyar stressed the need for the country to prioritize
investment in innovative technologies and downstream industries. He noted that
while the country’s industrial development has often been discussed, there has
been a gap between planning and execution, especially in sectors where global
advancements in petrochemical technologies have been achieved but domestic
industries have yet to catch up.
Bazyar also called for smarter systems and modern technologies to be
utilized in industrial operations to transform risky profit margins into
stable, long-term gains. He emphasized that infrastructure should be developed
to enable private sector participation, which remains one of Shastan’s primary
objectives.
He outlined several ongoing projects, including the Bushehr
Petrochemical project, which is expected to be one of the country’s most
valuable petrochemical chains. Bazyar added that this project, which processes
sour gas and rich gas, will span downstream products and could be considered
equivalent to three or four separate petrochemical units in one integrated
facility. The second phase of this project is expected to be operational in the
coming months.
Bazyar also noted Shastan’s focus on expanding downstream methanol
industries, particularly in the Chabahar region. “As a major methanol producer,
we aim to increase our presence in the downstream value chain to minimize risk
and avoid financial volatility,” he explained.
He concluded by discussing the necessity of policy support to mitigate
the impacts of sanctions on Iran’s petrochemical industry. Despite the serious
challenges posed by sanctions, Bazyar believes that leveraging domestic
capacity and applying smart solutions could help mitigate some of the negative
effects.
“Technologies such as methanol use in power plants and trucks, instead
of diesel, are achievable solutions that could enhance energy efficiency and
reduce costs,” Bazyar said, emphasizing the importance of strategic,
data-driven decisions and technological innovation to reduce production costs,
which is particularly critical during tough times like sanctions.