Indigenization Reduces Cost by 30% in Petrochemical Industry

The use of indigenized technical knowhow, especially in the field of catalysts, reduces cost in the petrochemical industry by 30%, managing director of Petrochemical Research and Technology Company said.
“The indigenization of all catalysts will help save about $1.15 billion annually, which would otherwise be spent on importing them. Although the price of catalysts in the petrochemical industry has a meager share in the whole project, if there is no catalyst, companies will face difficulty with their production and have to either close down or produce low-quality products,” Majid Daftari was also quoted as saying by the Oil Ministry’s news agency Shana.
“Research activities for the indigenization of a number of major catalysts were carried out last year [March 2021-22] and they will be produced by the end of the current Iranian year [March 2023]),” he added. Daftari noted that several catalyst production units will also become operational by then.