Completion of Petchem Value Chain Key to Protecting Iran Wealth

(Wednesday, June 26, 2019) 16:06

TEHRAN (NIPNA) – A Member of Tehran Chamber of Commerce said that completion of the value chain with the goal of reducing crude exports is a means of protecting the country's capital and wealth.

Mohammad Reza Ansari told NIPNA that under the current circumstances, “we should move towards completing the value chain and preventing crude oil sales,” adding: “The replacement of non-oil exports to increase government revenues should be a principle for statesmen; one of the sources for revenue generation is the export of petrochemical products.”

"Petrochemicals are a major source of income for the country, which account for the largest non-oil exports," he said, emphasizing that more value could be created by completing the value chain in the industry.

Petrochemicals are now on the path to economic and infrastructure development, the official added.

He went on to add that the petrochemical industry is a lucrative industry for the country and that the industry is considered as a mother industry for the country, which is essential for its development in a variety of ways.

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National Petrochemical Company