No Halts in Petchem Development despite Sanctions: CEO

No Halts in Petchem Development despite Sanctions: CEO
(Tuesday, August 14, 2018) 17:48

TEHRAN (NIPNA) -- The CEO of the National Petrochemical Company (NPC) said there would be no pauses in Iran's petrochemical industry development despite US sanctions.

Reza Nourouzzadeh said: "The country has already passed behind war times and sanctions, and it can stand against this turmoil with planning; we are fully prepared to continue the devised plans, despite the sanctions that do affect the petrochemical industry."

He said NPC, after privatization and implementation of the Privatization Act in Iran, is responsible for most of the industry's policy making, and investment and running of companies are left to the private sector and public and non-governmental institutions.

The official said Iran's export of petrochemicals has increased in the first 4 months of the current Iranian calendar year which began on March 21, adding, "Exports have risen in recent months and we have no concerns in that regard."

The US administration has announced a series of new sanctions against Iran, aimed at driving its oil exports down to zero.

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