Fereidoun Fadaei Dolat, CEO of Petrochemical Industries Investment Company (PIIC), evaluated Iran as one of the largest investment venues for expansion of petrochemical industries in the Middle East and the world; “one major policy pursued in the country’s petchem industry during the post-sanction era remains as further development of the field as well as completion of the supply chain in order to prevent selling of raw materials.
Pointing to preparation of new investment packages for Iran’s petrochemical industries, the official asserted “given the formation of two petrochemical production hubs in Asalouyeh and Mahshahr ports as well as the planning to establish the third hub in the Port of Chabahar, complementary industries need to be developed parallel with upstream petrochemical industries in these area.
Fadaei Dolat touched upon the held talks with some Asian and European investors to attract capital and supply technical knowledge as well as modern technologies for expansion of complementary industries; “accordingly, talks have begun with Chinese, Indian, Austrian and Italian firms on inking joint contracts.”
“Iran is currently exporting various products of complementary industries like industrial soot and a variety of rubber and plastic to Middle Eastern states including Iraq, Afghanistan, Pakistan, Turkey as well as some Persian Gulf littoral countries,” highlighted PIIC CEO adding “development of petrochemical complementary industries marks on of the main strategies of Resistance Economy inside the country.”
He further named Iran as the first manufacturer of citric acid in the Middle East reiterating “negotiations have kicked off with the Persian Gulf countries like Oman and the United Arab Emirates over exports of polyethylene and plastic materials produced by petrochemical complementary industries.
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