TEHRAN - Iran’s petrochemical industry is on the verge of reaching a production capacity of 100 million tons, with feedstock already supplied to several petrochemical plants set to become operational in the coming months, the head of the National Petrochemical Company (NPC) said.

Speaking at the 11th Petrochemical Industry Excellence Award ceremony on Saturday (March 8), Hassan Abbaszadeh stressed that developing the complex petrochemical sector without modern management systems is highly challenging. He noted that the industry has been at the forefront of adopting these systems.

“The Excellence Award process leverages these scattered management infrastructures within petrochemical companies, providing a framework for assessment and improvement,” Abbaszadeh said. “Excellence is not a fixed point but a continuous journey, one that the petrochemical industry embarked on years ago despite various challenges.”

Highlighting the importance of external evaluations, Abbaszadeh said assessments from independent entities help companies improve their performance. He also emphasized leadership as a key criterion in the award evaluations, pointing out that the industry is significantly influenced by both domestic and international political and economic factors. “The adaptability of managers to environmental changes is crucial in navigating challenges,” he added.

Abbaszadeh underscored the need for artificial intelligence integration in the petrochemical industry, urging companies to embrace AI-driven transformations. He also called on industry leaders to stay informed about market trends and technological advancements. “Human capital is the most valuable asset. I urge managers to maintain a respectful and warm approach toward employees, as their satisfaction is key to advancing the industry,” he said.

Afshar Baziyar, the newly appointed CEO of Shastan Commercial Investment Company, also spoke at the event, emphasizing the role of the petrochemical industry as a cornerstone of Iran’s economy. He highlighted the importance of sustainable development, which he defined as optimizing production, minimizing environmental impact, increasing profitability, and fulfilling social responsibilities.

Baziyar stressed the necessity of completing the value chain, diversifying feedstock supplies, upgrading technologies, and expanding target markets. “Increased investment in the petrochemical sector is crucial to achieving planned objectives,” he added.

He also pointed to Iran’s key advantages for petrochemical investment, including abundant hydrocarbon resources, a skilled workforce, and access to open waters for exports.

Baziyar concluded by advocating for improved energy efficiency, waste recycling, and circular economy initiatives within the industry. He suggested that NPC implement an integrated system covering all aspects of the industry’s operations to streamline growth and excellence.

During the event, in addition to awarding top-performing companies, NPC signed a memorandum of understanding with the National Water and Wastewater Company to launch water supply projects for underprivileged villages as part of the industry’s corporate social responsibility efforts.

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