Completed Value-Chain Ensures Petchem Profitability: Official

(Monday, December 3, 2018) 16:30

TEHRAN (NIPNA) -- A member of the industry and mines committee of the Tehran Chamber of Commerce said completion of the petrochemical value-chain could guarantee generation of hard currency in the industry.

Speaking to NIPNA, Alireza Kokahi Samadi said, "Given that the petrochemical industry is one of the most important industries in the country, it also undoubtedly plays an important role in the realization of the principles of resilient economy."

 "Therefore, the development of this industry is very important. Which should be considered,” he added.

 The official, referring to regulatory issues and pointing out that a regulatory body could be the pillar of petrochemical development, he added: "The regulatory organization as an independent regulatory body whose role is to make the market competitive and raise the quality of petrochemical products, develops investment in the petrochemical industry in order to promote the private sector.”

 Samadi said: "It's important to create a regulatory organization in the petrochemical industry to fulfill its monitoring, executive, and regulatory responsibilities regarding petrochemical companies."

 Emphasizing that the petrochemical industry has been a major contributor to the country's economic development and hard currency generation, especially over the past few months, the official said that sanctions could create problems, but the US already knew that imposing sanctions on Iran’s oil and petrochemicals were futile.

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National Petrochemical Company