Funneling Capital towards Petchem Sector, Necessary

(Monday, June 24, 2019) 16:31

TEHRAN (NIPNA) -- A spokesman for the Iranian Parliament said the wandering capital in the country should be spent on developing and completing development projects in the petrochemical industry.

Speaking to NIPNA, Sakineh Almasi, a spokesman for the Iranian Parliament's Energy Committee, said: "We need to support the petrochemical industry with the goal of completing the value chain, and in this regard, given the return on investment in the petrochemical and downstream industries, construction and completion of new projects can lead to a transformation in this dynamic industry.”

The representative of Assaluyeh, Kangan, Jam and Dayyer in the Islamic Consultative Assembly added: "It is necessary to funnel wandering cash towards construction and completion of petrochemical projects. Also, by expanding the diversity of petrochemical products, it is possible to generate value and prevent crude oil exports, while export of petrochemicals is easier than oil, hence circumventing the sanctions.”

Referring to the fact that the petrochemical industry directly and indirectly created many businesses, the MP stated that with a variety of petrochemical products and technologies created in the downstream petrochemical sector, the industry supplies hundreds of items.

She further added that the petrochemical industry played a special role in the country's economy, adding: "Infrastructures exist for expansion of petrochemical plants in the country.”

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