Creating a 150 billion dollar opportunity in Iran’s petrochemical industry

The CEO of the National Petrochemical Industry Company said: About 150 billion dollars of investment opportunities are being provided in Iran’s petrochemical industry for the next 10 years.

According to Energy Press, Morteza Shahmirzaei today (Monday, 13th of Shahrivar) during the signing ceremony of the memorandum of understanding for the provision of technical know-how and the implementation of the Petrowolfine Fanavaran project with the Chinese consortium, stated that the signing of this memorandum with the subsidiary companies of Tapico will be the beginning of the development of the future cooperation of the Iranian petrochemical industry with Chinese companies. .

Pointing out that about 150 billion dollars of investment opportunities are being provided in Iran’s petrochemical industry for the next 10 years, he added: Neighboring and aligned countries can cooperate with Iran for investment, technology development, and technical knowledge transfer.

The CEO of the National Petrochemical Industries Company pointed to the long history of cooperation between Iran and China and said: I admire the Chinese government and companies for not being influenced by international unilateralist countries.

Shahmirzaei continued: Chinese companies can have fruitful cooperation in the development projects of Iran’s petrochemical industry in the hubs of Mahshahr, Asalouye, Jask and Makran.

Emphasizing that the policy of the National Petrochemical Industries Company is to localize all the technical knowledge, catalysts and equipment of this industry, he clarified: Today’s memorandum is also in line with this policy with the aim of speeding up the development of the industry and completing the value chain.

According to this report, the tripartite memorandum of technical know-how provision and implementation of Petroolefin Fanavaran project was signed today (Monday, 13th of Shahrivar) in the presence of Morteza Shahmirzaei, CEO of National Petrochemical Industries Company, between Navid Shahidinia, head of Petroolefin Fanavaran and the Chinese consortium.

This cooperation memorandum was concluded with the Chinese consortium as EPC+F for the Fanawaran petroolefin project, which includes four large units of methanol, olefin, polypropylene (PP) and heavy polyethylene (HDPE).