Ajami emphasized that the NPC, alongside the National Iranian Oil
Company, National Iranian Gas Company, and National Iranian Oil Refining and
Distribution Company, forms one of the four strategic subsidiaries of the Petroleum
Ministry.
He noted that despite decades of sanctions, Iran’s petrochemical
industry has continued to expand, reflecting the sector’s inherent strength in
securing feedstock and financing both domestically and internationally.
“The petrochemical sector delivers fast capital returns and provides a
fertile ground for technology-based entrepreneurship,” Ajami said. “It is a
high-tech industry that undergoes complete technological renewal every five to
seven years — from catalysts and process designs to reactors and distillation
columns.”
Petrochemicals: A Pillar of Iran’s Non-Oil Economy
Ajami described petrochemicals as a “knowledge-based industry” with
significant export potential, accounting for roughly 25% of Iran’s non-oil
exports, mainly to Asian, Middle Eastern, and recently African markets. The
sector generates nearly half of the country’s foreign currency income, he said,
adding that it contributes about 20% of Iran’s total industrial value added.
Iran’s nominal petrochemical production capacity exceeded 96 million
tonnes in 2024, achieved through cumulative investments of more than $90
billion over four to five decades. Under the Seventh Development Plan, capacity
is to reach 131.5 million tonnes by 2028, requiring an additional $26 billion
in investment. The subsequent Eighth Development Plan targets 183 million
tonnes, demanding a further $43 billion, pushing total investment needs beyond $170
billion, Ajami added.
132 Licensed Projects Worth $88 Billion
According to Ajami, 132 development licenses worth a combined $88
billion have been issued, but 85% of these projects remain in early stages.
“Only 16 projects are above 70% completion, representing about $9.5 billion of
investment,” he said.
He urged investors to focus on strategic value chains such as
gas-to-olefins, gas-to-propylene, and methanol-to-polymers, as well as aromatics
and propylene dehydrogenation (PDH) units, which he described as “profitable,
high-return opportunities.”
New Financing Models and Regional Development
Ajami revealed that NPC is exploring new financing sources, including insurance
funds and national cooperative funds, to mobilize domestic capital. He added
that the company is in talks with foreign partners within BRICS, the Shanghai
Cooperation Organization, and the Eurasian and ECO frameworks to establish
mechanisms for international financing and joint ventures.
Describing petrochemicals as a “marine-based industry,” Ajami said new
plants would be concentrated along Iran’s southern coasts to ensure access to
water for cooling and processing.
Key expansion zones include:
- Mahshahr
Special Economic Zone (Phase II) — $7.5 billion investment for 8.7 million
tonnes/year capacity over 3,000 hectares;
- Assaluyeh
(Bushehr Province) — $80 billion investment in 19 projects using 33
mcm/day of gas feedstock, with 25 million tonnes/year capacity;
- Parsian
Energy Zone — $9.5 billion investment, 12 mcm/day gas feed, and 12.3
million tonnes/year capacity;
- Bushehr
coastal region (Kangan, Siraf, Dayyer) — $8 billion investment and 30
million tonnes/year capacity;
- Chabahar
(Makran region) — future site for new petrochemical investments and export
infrastructure.
The two-day Marine Economy and International Investment Conference
gathered experts, investors, and representatives from several countries to
discuss maritime industries, logistics, offshore energy, and sustainable
coastal development.
Ajami concluded that targeted, value-oriented investment is essential
for Iran to transition from raw material exports toward high-value,
technology-driven production, in line with the goals of the Seventh Development
Plan.