TEHRAN, Dec. 13 (Shana) – Iranian First Vice President Eshaq Jahangiri said that development of petrochemical industry can lead to increased job opportunities in the country.

“Employment is one of the key advantages of the industry,” he said at the opening of the 12th Iran Petrochemical Forum (IPF 2015) here on Sunday.

Calling for employing the country’s industrial capacities after sanctions are lifted, Jahangiri said an all-out readiness is required to step into the post-sanctions era.

Foreign Minister Mohammad-Javad Zarif also said at the conference that Iran’s petrochemical industry is ready for development in the wake of the nuclear Joint Comprehensive Plan of Action (JCPOA).
“The industry can enter a new setting following removal of the sanctions,” he said adding, “The petchem industry is one of the active and dynamic fields which was directly hit by the oppressive sanctions.”

“It was the reason that we were after removing sanctions from this industry from the beginning of negotiations with the 5+1 countries,” Zarif said.
Minister of Petroleum Bijan Zangeneh told the conference that Iran is planning a giant leap in its petrochemical industry following lifting of sanction so that it can secure the targets set by the country’s Twenty-Year Outlook.

“Value of Iran’s petrochemical products is planned to increase to 70 billion dollars, a target which, nevertheless, requires massive investment, modern technology, and marketing,” he added.
Some 97 foreign companies from 25 countries participated in IPF 2015 which shows an increase of 120 percent compared to IPF 2014.

More than 15,00 representatives from domestic and foreign firms including Australia, Azerbaijan, Canada, Denmark, France, Germany, Japan, the Netherland, Russia, and US are taking part in the event.

Participants in the IPF2015, one of the world’s most prestigious events representing the petrochemical industry, will discuss the core issues that the industry is facing with the emphasis given to Iran.

It provides an ideal platform where stakeholders and key players in the global petrochemical sector meet to exchange knowledge and address the latest advancements and best practices which are capable of shaping the future of the industry.s and plans for further expanding the Iranian petrochemical output capacity from the current 60 million t/y to over 138 million t/y in 2020 and eventually to 180 million t/y by 2025 with an investment of over $80 bn.

NPC seeks to use Iran’s natural gas reserves as raw material to produce propylene and propylene derivatives to provide feed for the expansion of local downstream industries.

By SHANA