Fresh Investment Vital for Developing Petchem Sector: Official

(Tuesday, April 30, 2019) 23:30

TEHRAN (NIPNA) -- A member of the Tehran Chamber of Commerce said that every opportunity shall be exploited to absorb fresh investment into the petrochemical sector in order to ensure the industry’s development.

Speaking to NIPNA, Abbas Argon, head of the money and capital market commission of the Chamber, said, “We need to take every opportunity for new investments as realization of domestic and foreign investments can increase the development of petrochemical industry.”

Emphasizing that the petrochemical industry is one of the most influential industries in Iran as it provides the feedstock for other sectors, the official said that the petrochemical industry can play a vital role as the engine of the country's economy.

He said abundance of gas and gas condensate in Iran, access to high seas, the population of the country and massive domestic demand for petrochemical products, and geographical location of the country in terms of close proximity to Asian markets, are some of the factors that make Iran's petrochemical industry a relatively advantageous industry compared to many countries in the world.

Mr. Argon added that the petrochemical industry was one of the most important oil-related industries that could generate high value added in the country's economy.

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National Petrochemical Company