The event, being held in collaboration with Persian Gulf Petrochemical Industries Company, is aimed at providing a platform to interact, share ideas, presenting business opportunities and services and boosting bilateral contacts to support and strengthen domestic production.
Covering an area of 18,000 square meters, the event is hosting 164 domestic companies that seek to boost collaboration in the transfer of technical knowledge and engineering services, chemicals, catalysts and equipment, support and the use of companies knowledge-based, support for downstream industries, development of research and new technologies, promotion of free and special economic zones in the development of petrochemical industry and project financing.
The PGPOC Forum will also hold specialized meetings and side conferences, focusing on introducing domestically made products in the petrochemical industry and financing petrochemical projects and the role of the capital market.
Iran has significantly expanded its petrochemical industry and invested heavily in it in the past two decades. Petrochemical firms now supply most of the domestic needs, thanks to the diversity of products, and export in big volumes.
The country will invest $40 billion in the petrochemical sector to increase annual output from the current 66 million tons to 133 million tons in five years.