Spokesman for the Parliament's Committee on Industry and Mines:

Petrochemical Industry key to Self-Sufficiency, Economic Prosperity

Petrochemical Industry key to Self-Sufficiency, Economic Prosperity
(Sunday, July 21, 2019) 12:54

TEHRAN (NIPNA) -- A spokesman for the Iranian Parliament's Committee on Industry and Mines said: "One of the foundations for the development is the petrochemical sector, which, in addition to the prevention of crude oil sales, provides raw materials for downstream industries to strengthen national production and economic prosperity of the country.”

Saeed Bastani, MP, said that the petrochemical industry is a driving force for the country's economic development, adding the growing trend in the industry shows that this industry can play a major role in the development of non-oil exports.

He further commented on the creation and completion of the petrochemical value chain as a means of protecting the country's wealth, adding that there are many untapped potentialities for the development of the petrochemical projects in the country.

Downstream petrochemical industries directly and indirectly create many businesses and their degree of linkage with other sectors is remarkable in the economy, the MP argued.

"The petrochemical industry is a major source of income, which accounts for the largest non-oil exports of the country,” he said. "The petrochemical industry has made good achievements in recent years and we have made good progress in the field of manufacturing indigenous equipment in this industry.”

Email is required
Characters left: 500
Comment is required