Speaking to NIPNA, Adel Nejad Salim said the body would play a key role in facilitating foreign investment in the sector by offering guarantees to petrochemical companies.
The PGPIC official further said prior to privatization of the petrochemical sector, the government was concerned about issues like controlling prices and supplying feedstock to petrochemical plants, but after privatization of the industry, other issues like orchestrating operation of the petrochemical companies and pricing of feedstock became the top concerns of the industry in Iran.
He said the regulatory body would be a key factor for addressing the industry’s current concerns, adding the body would help sketch the sector’s major and long-term plans that would be vital to the life of the sector.
PGPIC is Iran’s biggest petrochemical holding company that governs dozens of companies in the industry.
“Now that foreign finances can be channeled into the sector in the wake of removing sanctions, the regulatory body would devise integrated plans for solving issues like guarantees for private companies which seek foreign finances,” the official added.