{"id":12754,"date":"2024-12-18T09:57:52","date_gmt":"2024-12-18T09:57:52","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=12754"},"modified":"2024-12-18T09:57:52","modified_gmt":"2024-12-18T09:57:52","slug":"investing-in-rd-key-to-petchem-industry-growth","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/12754\/","title":{"rendered":"Investing in R&D key to petchem industry growth"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0The CEO of Persian Gulf Petrochemical Industries Company (PGPIC) said that investment in research and development (R&D) is a key driver behind the growth of major global companies and highlighted the need for forward-thinking approaches to creating wealth in the petrochemical industry.<\/p>\n

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Speaking at the \u201cPetrofan 1403\u201d conference on Tuesday, Mohammad Shariatmadari said the event is a platform for advancing the petrochemical industry. \u201cThis conference began years ago, and Persian Gulf Holding takes pride in supporting the development of modern technologies in the petrochemical sector.\u201d<\/p>\n

Shariatmadari stressed the importance of aligning Iran\u2019s industry with global development to ensure it thrives. \u201cToday, R&D is a fundamental strategy for leading corporations worldwide, and investment in this field has been a significant contributor to their growth.\u201d<\/p>\n

He pointed out that ensuring feedstock supply and financial resources remains a major challenge for the petrochemical industry. \u201cWhile Persian Gulf Holding is not the country\u2019s main consumer of natural gas, with proper planning, it can play a key role in securing feedstock for domestic petrochemical plants. We have initiated discussions with government officials and are taking steps to address this issue.\u201d<\/p>\n

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Need for innovative financial tools\u00a0<\/strong><\/p>\n

Regarding financing for the sector\u2019s development, Shariatmadari emphasized the need for appropriate financial mechanisms and the creation of innovative tools. \u201cWe are working to address this challenge through domestic and international collaborations.\u201d<\/p>\n

He warned that any production unit that neglects R&D risks becoming obsolete. \u201cPetrofan can greatly contribute to achieving this goal by identifying real needs and exploring new technologies to create wealth in the petrochemical industry.\u201d<\/p>\n

Highlighting the importance of forward-thinking in the sector, Shariatmadari called for producing globally competitive products. \u201cInvesting in R&D reduces production costs, and one of Petrofan\u2019s key objectives is to address the petrochemical industry\u2019s needs, starting with Persian Gulf Holding and extending to the broader sector.\u201d<\/p>\n

He added that Petrofan should facilitate collaboration across research centers, universities, producers, startups, and knowledge-based companies.<\/p>\n

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2.5-fold increase in R&D investment\u00a0<\/strong><\/p>\n

Shariatmadari noted that while investment in R&D has grown over the past three years, it still lags behind global standards. \u201cR&D investment within Persian Gulf Holding has increased approximately 2.5 times, but significant steps are still required.\u201d<\/p>\n

He highlighted the need for innovation in addressing environmental challenges within the petrochemical industry. \u201cOne of my key goals is to advance Persian Gulf Holding toward green petrochemicals, ensuring leadership in this field while maintaining a strong track record. Water, energy, and environmental sustainability are critical areas where Petrofan can make meaningful progress.\u201d<\/p>\n

Regarding artificial intelligence (AI), Shariatmadari said, \u201cIn discussions with Iranian experts, valuable proposals were made to leverage AI for the development of the petrochemical industry.\u201d<\/p>\n

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Encouraging private sector participation\u00a0<\/strong><\/p>\n

Shariatmadari called for the completion of the petrochemical value chain and urged greater private sector participation in downstream development. \u201cWe must ensure no missing links in the value chain.\u201d<\/p>\n

He expressed hope that Petrofan will play a significant role in opening new markets, fostering knowledge-based production, securing financial support, encouraging investment in R&D, and empowering startups.<\/p>\n

Shariatmadari also noted that the number of companies evaluated at the Petrofan event has grown from 19 in the Iranian year of 1401 (ended March 20, 2023) to 52 this year.<\/p>\n

\u201cThe funds allocated to technology and innovation have increased from 1.53 trillion rials in in the Iranian year of 1401 to 2.65 trillion rials in in the Iranian year of 1402 (ended March 19, 2024) and are projected to reach 3.93 trillion rials in the current Iranian year (to end March 20, 2025).\u201d<\/p>\n

He added that the number of signed agreements related to domestic production has risen from 152 in in the Iranian year of 1401 (ended March 20, 2023) to 320 in the Iranian year of 1402 (ended March 19, 2024), with their total value increasing from 31 trillion rials in the Iranian year of 1401 to 57 trillion rials in to 320 in the Iranian year of 1402.<\/p>\n

At the conclusion of the conference, a memorandum of cooperation was signed between the Vice Presidency for Science, Technology, and Knowledge-Based Economy and Persian Gulf Petrochemical Industries Company.<\/p>\n

The \u201cPetrofan 1403\u201d conference, themed \u201cPath to Innovation in the Petrochemical Industry\u201d, will be held from December 22-24 at the National Iranian Oil Company\u2019s International Conference Center (Koushk) in Tehran in collaboration with Persian Gulf Holding and the Vice Presidency for Science, Technology, and Knowledge-Based Economy.<\/p>\n

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