TEHRAN – The head of Iran’s National Petrochemical Company (NPC) has stressed the need for using new specialized financing solutions in the petrochemical industry, Shana reported.

“If specialized measures are taken in the field of financing in the petrochemical industry, all obstacles, even sanctions, can be overcome,” Morteza Shahmirzaei said on Tuesday, at a conference on investment and financing in the petrochemical industry.

Pointing out that the conference was held to identify complications and explore investment and financing opportunities for petrochemical projects, Shahmirzaei stated that these issues should be seriously investigated in the specialized meetings of this conference to achieve positive results for the investors of this industry.

The official stated that today 95 percent of the world's industries are directly or indirectly dependent on the products of the petrochemical industry, adding: “Considering the rich hydrocarbon resources, Iran should make maximum use of these resources, especially by developing the petrochemical industry as much as possible.”

Pointing out that financing challenges have delayed some petrochemical projects for years, Shahmirzaei added: “We must actualize investment opportunities in this industry so that all types of petrochemical products can be produced in the country.”

He further called on the country’s major petrochemical holdings to collaborate with economic experts and scholars in holding financing and funding training courses for investors in this sector.

The NPC head said the 20-year roadmap of the country’s petrochemical industry is being compiled by the company, adding: “I request all scientific and research centers to help us in this regard.”

Shahmirzaei further noted that over 85 percent of the parts and equipment used in the petrochemical industry are manufactured inside the country, adding that the industry will become completely self-sufficient in the coming years.

EF/MA