Supporting or Focusing on the Iranian Petrochemical Industry?

Supporting or Focusing on the Iranian Petrochemical Industry?Nowadays the petrochemical industry in Iran are going to be the most attractive part of the economy for the Government due to inflation in the FOREX market. Now, not only the downstream industries but also PMs and many other sectors are looking very closely to the actions and decisions of the managers and board of directors. The price of feed-stock is now under several protests and having the winner Ace in their hands, the managers of this huge industry don’t care for obligations. They are now the main sources of injecting hot currency to the market and the Government really needs them. The following news are selected from the outcomes of the 30th forum of the Iranian petrochemical managers.

1- Finances must be Directed towards Petchem Projects

A member of the Iranian parliament’s Committee on Industry and Mines said the country’s available finances must be directed towards development of petrochemical projects.

Mohammad Hossein Farhangi told a gathering of senior petrochemical officials on Thursday that the nation must be persuaded to have faith in the lucrative nature of the petrochemical projects in the country so that finances are directed towards their development.

He underlined the role petrochemical industry plays in Iran’s economy, adding the sector allows for production of added-value commodities and weaning the economy off export of crude oil and gas.

Farhangi went on to add that production of highly valued items, efficient marketing of products and facilitation of money transfer to the country are three key points for maximizing profitability of the sector.

2- Fresh Investment needed in Petchem Industry

Another member of the Iranian parliament said the arrival of fresh investment in the petrochemical sector must be supported, saying the body was fully ready to endorse petrochemical investments in Iran.

Addressing a gathering of senior petrochemical officials on Thursday, Masoud Pezeshkian, a member of the Iranian parliament, underscored the petrochemical sector’s potentialities to wean the country off export of crude oil and gas and complete the value chain which can only be possible by the arrival of fresh investments in the sector.

“We must be concentrated, invest and encourage everyone to move towards investment in various sectors of the petroleum industry,” said the MP.

“We have made many decisions in the past which we should not have made, but this is where we are now. Today we must close ranks inside the country and nurture advantages as much as possible,” said the lawmaker.

“We have no way but to invest in our strong points inside the country. We must first recognize our advantages and move the country towards them.”

The MP further voiced the parliament’s support for petrochemical industry, adding, “We must spare no efforts in order to excel.”

Oil and gas are the country’s biggest advantages for the time being, but should not be merely sold in crude form, stressed the MP. “Find novel methods and we would support you in the parliament. We will never get to nowhere by only using old methods.

Supporting or Focusing on the Iranian Petrochemical Industry?
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