Addressing a press conference here in Tehran, Peyvandi said the polymer-grade propylene production cycle will be complete within a month.
"Iran has obtained major developments in areas like defense, nuclear technology, stem cells as well as many other fields, and it would be bad for the country not to progress as well in downstream petrochemical industries," said the official.
The National Petrochemical Company (NPC) is resolved to trace the reasons that have kept Iran's petrochemical industry lag behind other industries, said Peyvandi.
To this effect, the company is seeking to address hindrances like shortage of feedstock and funding in half-finished projects.
He further said enhancing production of petrochemicals is also being pursued with the help of universities as it is being pursued by the petroleum ministry for enhancing recovery of oil and gas reservoirs.
He said Iran is expected to add 60 million tons of petrochemicals by the next 10 years to its production capacity which currently stands at 60mt/y .