Iran Private Sector Potent to Bankroll Petchem Projects

Iran Private Sector Potent to Bankroll Petchem Projects
(Saturday, November 2, 2019) 17:08

TEHRAN (NIPNA) -- A member of the Tehran Chamber of Commerce said that the Iranian private sector had the potential to invest in and finance petrochemical projects.

Speaking to NIPNA, Mojtaba Safaee said in addition to attracting foreign capital, there was a capacity in the private sector to have a stronger presence in the investment and financing sectors of petrochemical projects in the country.

He said the petrochemical sector was one of the most important pillars of the country's economy and industry, and given Iran's advantages such as its unique geographical location, investment in the petrochemical industry was an attractive, secure and exciting opportunity.

The official also added that construction of petro-refineries instead of mere refineries could enhance the country's revenues in the field of petrochemicals.

Safaee said the petrochemical industry played an important role in various economic and industrial sectors, especially in the downstream industries, in addition to having a positive impact on economic growth and employment, revenue generation and fighting the sanctions.

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