Iran's Minister of Petroleum, Bijan Namdar Zanganeh has stressed the importance of investment in and the development of the downstream petrochemical sector as an approach to create job opportunities, generate added value, promote technology and boost non-oil exports.
He told participants at the 1St Downstream Petrochemical Industries Investment Forum, recently held in Tehran, that Iran's government and the Majlis (parliament) looked with favor on the private sector's participation in downstream sector while Ministry of Petroleum and NPC approve and support such participation.
He said government efforts to support investment in downstream industries, had included protecting investment from the private sector by providing foreign currency and financial facilities from the Foreign Currency Reserve Fund.
Another element of this strategy is the establishment by NPC and Industrial Development and Renovation Organization (IDRO) of the Petrochemical Downstream Industries Development Department. One of the department's tasks is to identify worthwhile and profitable projects in downstream petrochemical industries that will be suitable for investors in the private sector. The department has so far carried out some 100 free feasibility studies on such projects before submitting them to potential investors.
He stated that studies are under way for building feedstock pipelines in the country designed to transport ethane or ethylene from Assaluyeh to other areas in country. The projects forms part of plans to help develop Iran's petrochemical industry in western, eastern and northeastern Iran where the private sector can invest in downstream projects.





NPC says it is unwavering in its policy to give support to the development and promotion of investment in petrochemical downstream sector. Speaking at the recent Downstream Petrochemical Industries Investment Forum, which was held in May in Tehran, NPC's President, Mohammad Reza Nematzadeh, stated that NPC's support for the downstream petrochemical sector is backed by the Iranian government, particularly ministries of Petroleum and Mines & Industries. Ticking a list of supports that NPC gives to the downstream sector, Nematzadeh mentioned conducting and financing feasibility studies, offering financial and technical assistance to investors, providing investors with feedstock and utilities if the projects are built in the Petrochemical Special Economic Zone, concluding products off-take and export agreements, providing gratis technical and expert services as well as technical training. He said the sector had invested in both down and upstream petrochemical sectors. Government efforts to support investment in downstream industries, have included protecting investment from the private sector by providing foreign currency and financial facilities from the foreign banks and financial institutions. NPC, he noted, has pioneered the establishment of a specialized export company, incorporating downstream sector producers.