By Trend
The secretary of the Association of Petrochemical Industry
Corporation said Iran’s petrochemical industry should attract more
foreign investment.
"So far, the country has absorbed $50 billion in the sector of
petrochemistry," Ahmad Mahdavi Abhari said, Mehr news agency
reported on October 19.
He added that this industry needs another $83 billion investment
in the next seven years.
The official said fluctuations in the foreign exchange market
have worsened the process of petrochemical products’ exports.
Abhari said cooperatives should be allowed to get involved in
this industry to create a competitive atmosphere inside the
country.
According to a recent report, the export of non-oil products in
the first half of the current Iranian year shows that the value of
petrochemicals exports has grown by 24 percent compared to the
corresponding period last year.
Meanwhile, the value of exported products, excluding
petrochemicals and gas condensates, has increased by 20 percent in
the 6-month period.
In March 21-September 22, Iran exported more than $23 billion in
non-oil goods, up 13 percent compared to the year before.
In August, CEO of National Petrochemical Company (NPC) Reza
Norouzzadeh said Iran’s petrochemical industry was "unsanctionable"
and that the exports would continue on schedule.
The US has imposed fresh sanctions on Iran after withdrawing
from the 2015 Iran nuclear deal and is planning to push Iran’s oil
exports down to zero by November 4.
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