Petchem Unity Key to Firm Market Toehold

Petchem Unity Key to Firm Market Toehold
(Saturday, May 12, 2018) 15:20

TEHRAN (NIPNA) -- Iran's petrochemical companies can thrive in international markets provided that they can close ranks and unify their exports.

Speaking to NIPNA, Mohammad Reza Padidar, chairman of the energy committee of the Tehran Chamber of Commerce, underlined the necessity of cooperation and convergence of petrochemical companies in order to enhance their exports, adding the petrochemical industry was one of Iran's key economic sectors which could play a crucial role in boosting the country's production.

"Petrochemicals are base products with a major role in local manufacturing, and need to be supported," he added.

He said pricing of petrochemicals was subject to international developments and the global exchange markets.

"Provided that the sector attracts domestic and foreign finances, it can play a major role in generation of jobs in the country," he further added.

Iran currently supplies 56 million tons of petrochemicals annually which is projected to cross 64 mt/y this calendar year which ends on March 20 2019. 

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