Private Investment Needed to Develop Petchem Industry

(Monday, December 10, 2018) 16:32

TEHRAN (NIPNA) -- A member of the Oil, Gas and Petrochemical Exporters Union believes that the development of the petrochemical industry could gain momentum by direct investment from the private sector.

Hamid Hosseini told NIPNA that the petrochemical industry was a lucrative and profitable industry for the country, adding the petrochemical sector was one of the country's mother industries, which need to be supported by the government and the private sector to flourish.

 He said petrochemical companies contributed greatly to the country’s non-oil exports and revenue generation, and stated that investment and application of the latest technologies were direly needed in the sector.

 “Provided that the conditions are set for the presence of investors in the industry, major investments can be made possible in the sector,” he added.

 Hosseini called for optimum exploitation of petrochemical potentialities, adding abundant feedstock resources and skilled and experienced workforce were some of the advantages of developing petrochemical projects in Iran.

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National Petrochemical Company