Developing Downstream Industries Key in Economic Prosperity

(Monday, August 5, 2019) 16:32

TEHRAN (NIPNA) – A member of the Iranian parliament said that the downstream petrochemical industry could play a key role in the country’s economy, adding development of the sector needed precise planning, investment and support.

Speaking to NIPNA, Hamid Garmaei, who is also a member of the industries and minds committee of the parliament, said major achievements had been made in the petrochemical industry recently, adding that the country’s petrochemical output was not considerable prior to the Islamic Revolution but now it is one of the largest suppliers of various polymer products in the world.

Garmaei, who represents the people of Neyshbour at the parliament, added that over 54 million tons of petrochemicals are produced annually in Iran which are expected to reach 100 mt/y by 2021.

The MP said despite the fact that the country is targeted by the sanctions, most of the petrochemical companies operating in the sector were subject to sanctions before and had always operated in the market.  


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National Petrochemical Company