TEHRAN – The managing director of Iran’s National Petrochemical Company (NPC) has said petrochemical complexes and investors can benefit from discounts on feedstock by diversifying their output and completing the industry’s value chain, Shana reported.

“Companies and investors can benefit from the feed discount by developing the value chain of their products to create a safer profit margin for themselves,” Morteza Shahmirzaei said on Friday on the sidelines of a visit to a petrochemical project in Ardebil Province.

Emphasizing NPC’s full support for investors and companies in line with the company’s grand strategy of completing the value chain, he reminded: “One of the capacities that the government has foreseen in the draft of the seventh five-year National Development Plan for the development of the petrochemical industry is feed discount.”

He stated that methanol-producing units across the country will enjoy up to 30 percent discount on the delivered feed unconditionally on the condition of completing their value chain, saying: “Petrochemical project investors can also benefit from 20 to 30 percent feed discount in proportion to the amount of investment.”

According to the official, the development of downstream industries, increasing added value, job creation, diversifying export product portfolio, and improvement of the level of economic and social welfare of the society are among the most important goals of the NPC’s strategy for completing the country's petrochemical industry chain.

Earlier this month, Shahmirzaei said that the petrochemical industry is the top industry in terms of revenue generation for the country.

“Increasing the production of the petrochemical industry means increasing exports and, as a result, earning more revenues for the country and no other industry has had the role that the petrochemical industry has played in earning foreign currency for the country, especially under sanctions,” the NPC head said.

Referring to the upcoming Iran Plast International Exhibition, the official called on all private companies active in the petrochemical industry to have an active presence in the exhibition, saying that the active participation of the state-run and private sectors in the Iran Plast exhibition can be considered as a successful model and a promising example of the petrochemical industry’s economic impact.

EF/MA