Director of Iran<\/strong><\/a>\u2019s National Petrochemical Company (NPC)\u2019s Projects says with several new projects going operational, the country\u2019s petrochemical <\/strong><\/a>production capacity is going to increase significantly in the current Iranian calendar year (started on March 20).<\/p>\n\n\n\n \u201cIn the year of “Surge in Production”, the petrochemical industry is trying to benefit from the most of the domestic capabilities and with new petrochemical projects being inaugurated, the production capacity in this industry will increase significantly,\u201d IRNA quoted Ali-Mohammad Bosaqzadeh as saying.<\/p>\n\n\n\n He said the petrochemical industry is now the center and pillar of the country’s economic development and is in close collaboration with all industrial sectors, adding that injecting resources into the productive sectors and prohibiting the waste of national resources can lead to the second and third leaps in the petrochemical industry.<\/p>\n\n\n\n Noting that the balanced development of the petrochemical industry is of particular interest among NPC strategies for the current year, he said: “In this regard, the development of downstream petrochemical industries is going to prevent the sale of raw materials and will result in the production of products with higher added value.\u201d<\/p>\n\n\n\n With several new projects going operational, the Iran\u2019s petrochemical production capacity is going to increase significantly.<\/p><\/div>\n\n\n\n He further noted that most of the underway projects in this industry are currently using domestic equipment, licenses and technological knowledge of Iranian experts.<\/p>\n\n\n\n Considering the undeniable significance of the petrochemical industry in Iran\u2019s resilient economy in the sanctions era, the Iranian Oil Ministry and the country\u2019s National Petrochemical Company have been taking major steps to facilitate further development of this industry in recent years.<\/p>\n\n\n\n