National Development Group Backs Petchem Sector with Focus on Knowledge-Based Projects

National Development Group Backs Petchem Sector with Focus on Knowledge-Based Projects
(Tuesday, July 29, 2025) 15:12

TEHRAN (NIPNA) – Iran’s National Development Investment Group has reaffirmed its strategic support for the petrochemical industry, with a strong focus on knowledge-based projects and value chain development, the group’s CEO said on Monday.


Farhad Zargari, CEO of the state-owned investment holding, told NIPNA that the petrochemical sector remains a core driver of Iran’s economy and a key source of foreign currency revenue. “We are aligning our investments with national priorities, emphasizing innovation and high-impact downstream ventures,” he said.

He noted that under current macroeconomic policies, bank-affiliated entities such as subsidiaries of the National Development Group are required to divest from direct ownership of enterprises. However, Zargari stressed that activities defined under the scope of knowledge-based industries are exempt from this mandate and remain a priority.

“A significant portion of petrochemical operations qualify as knowledge-based,” Zargari explained. “Accordingly, the National Development Group continues to maintain and expand its presence in this sector.”

Qeshm Petrochemical Project in Focus

Among the group’s key initiatives is the Qeshm Petrochemical Project on Qeshm Island, a major undertaking positioned as a strategic priority. One of its flagship developments is the Gas-to-Polypropylene (GTPP) project, aimed at converting natural gas into polypropylene — a crucial step in expanding Iran’s downstream petrochemical capacity.

“This GTPP project is a strategic move toward completing the petrochemical value chain and boosting industrial productivity,” Zargari said, highlighting its potential to create value-added products and enhance economic efficiency.

He emphasized that the group’s long-term development strategy is grounded in scaling up knowledge-based activities. “Our strategic focus is on domains that offer both high value-added output and are rooted in modern, defined technologies.”

Zargari also underlined that all proposed projects undergo rigorous evaluation through a specialized think tank. “Only those projects that pass technical and strategic assessments will proceed to implementation and investment phases,” he added.

 


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