Private Sector Ready to Join Petchem Projects: Official

(Tuesday, May 21, 2019) 17:01

TEHRAN (NIPNA) -- A member of Tehran Chamber of Commerce voiced readiness of the Iranian private sector to join petrochemical projects in the country.

Speaking to NIPNA, Feryal Mostofi said the conditions for further involvement of the private sector in the petrochemical industry must be provided, and this sector can contribute to the development of the industry.

She pointed to the valuable role and place of the petrochemical industry in Iran's economy, adding: "In the upstream outlook of the country, one of the ways to prevent economic vulnerability of oil and gas revenues is to increase export of petrochemical products. On the other hand, the products of this industry provide the raw materials for many sectors of the Iranian economy and, from this perspective, are very important and are always of interest to the policy makers of the country.”

She added: "The more petrochemicals are used to develop petrochemicals, the better and the better gas and oil will be used; in fact, the petrochemical industry will be directly connected to oil and gas, and lead to the completion of the value chain and the production of end-user products which will bring more value added.”

Mostofi further added that the downstream petrochemical industry has directly and indirectly created many businesses.  

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National Petrochemical Company