Iran Eyes Development of Petchem Industry by Relying on Domestic Capabilities

The Managing Director of the National Petrochemical Company (NPC) stressed the need for relying on domestic capabilities for the development of the petrochemical industry, calling on investors to consider national interests in developing the industry.

Addressing the first meeting of the CEOs of the country's petrochemical holdings with senior executives of the oil industry on Tuesday, Morteza ShahMirzaei said a new horizon has opened to the petrochemical industry, adding quantity of the produced petrochemicals will more than double in the next 10 years.

Referring to the need for investment and technology in the petrochemical industry, he added: "It is better to rely on the domestic capacity to develop this industry and use the capabilities of research companies and science and technology parks."

The CEO of the National Petrochemical Company, emphasizing that there are many specialized workforces in the country, continued: "The demand of the industry must be met with domestic capacity and the petrochemical industry must be truly self-sufficient." - Shana