Hassan Abbaszadeh, Deputy Petroleum Minister and NPC Managing
Director, said that petrochemical development remains one of the core
priorities of Iran’s oil and gas industry, with investment attraction and
financing for ongoing projects playing a central role in completing the value
chain and boosting foreign currency revenues.
“Maximizing the use of hydrocarbon resources to produce higher-value
products is among the main goals defined under the Seventh Development Plan,”
Abbaszadeh said.
He noted that 66 petrochemical projects are included in the plan,
requiring an estimated $26 billion in total investment. These projects, which
have reached an average of 60% physical progress, have so far attracted about
$13 billion in funding, with “notable advances” achieved during the first two
years of implementation.
According to Abbaszadeh, ensuring stable feedstock supply, attracting
sufficient investment, and securing reliable markets for petrochemical products
are key conditions for sustainable growth. He also stressed the importance of
maintaining a stable and predictable business environment to draw in investors.
Looking ahead, Abbaszadeh said that 46 new petrochemical projects are
currently ready for investment and scheduled to come online by 2033 under the
Eighth Development Plan. These projects, collectively valued at $44 billion,
have already obtained the necessary environmental, land-use, and safety
permits, and are supported by designated project managers. “Each project has a
clear plan prepared for introduction to potential investors,” he added.
The NPC chief underscored the company’s focus on attracting investment
from genuine private-sector players. “Of the roughly $90 billion invested in
the petrochemical industry so far, only about 15% has come from the real
private sector. Increasing this share is crucial, as private investors tend to
act more efficiently, execute projects faster, and make more informed strategic
decisions,” he said.
Abbaszadeh concluded that completing ongoing projects through
coordinated financial participation from domestic and international investors,
the banking system, and capital markets could significantly accelerate industry
growth. “With sound planning and effective measures, Iran can successfully
attract new investments into its value-creating petrochemical sector,” he said.