Iran to Double Petchem Revenues in 10 Years: Official

Iran to Double Petchem Revenues in 10 Years: Official
(Thursday, February 1, 2018) 23:18

TEHRAN (NIPNA) -- An Iranian deputy petroleum minister says Iran has devised 60 petrochemical projects which, once operational by the next 10 years, will double the country’s petrochemical revenues.

Habibollah Bitaraf, the deputy petroleum minister for engineering, research and technology affairs, said, “The petrochemical industry of Iran has defined over 60 projects with the production capacity of 70 million tons per year, which, once operational within the next 10 years, will double the revenue of this industry.”

Speaking on Tuesday at a gathering of petrochemical executives, Bitaraf underlined the sector’s significance in the country’s economy, adding, “In recent years, the volume of foreign sales of petrochemical products has exceeded that of domestic sales, which has made the country's petrochemical industry an outstanding export industry.”

He said: “The importance of the petrochemical industry and its prominent features require that maintenance discussions be considered more than ever, and among the top managers of this industry, the culture of maintenance should be prioritized over repairing.”

The official further underlined the need for establishing a physical asset management system in the sector order to transform the operation, maintenance and repair of petrochemical plants.

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