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.