Iran Petchem Industry in Need of Strategic Planning: Expert

(Tuesday, February 26, 2019) 18:03

TEHRAN (NIPNA) -- An expert says Iran’s petrochemical industry is touted as one of the country’s most successful sectors, which needs strategic planning to ensure its rapid development.

Speaking to NIPNA, Reza Pakdaman, a member of the Trade Research Center of the Minister of Industry, Mine and Trade, said one of the solutions to address the troubles Iran’s petrochemical industry is faced with is to define a strategic plan for development of the sector.

“In some Middle Eastern countries, the petrochemicals industry is a major sector with massive advantages and our country enjoys the same advantages as well,” he said.

“Therefore, timely and strategic planning is needed to determine the fate of the industry in global markets.”

He said there are regional countries that have vastly invested in the sector in recent years and continue to do so, which is an indication of the fact that the petrochemical markets are massive and required a lot of attention.

Pakdaman further said that Iran’s petrochemical industry has witnessed a 22-fold growth since the 1979 Islamic Revolution and is currently operating at 65.8 million tons per year of production capacity.

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