Sanctions no hurdle to petchem productivity: NPC CEO

TEHRAN, Jan. 06 (MNA) – The CEO of the National Petrochemical Company (NPC) said the sanctions and the current economic pressure on Iran could not throw a wrench in the productivity of petrochemical plants in the country.

Speaking to Shana on Saturday, Behzad Mohammadi said the current international conditions have not and will not impose restrictions to the petrochemical industry, adding that petrochemical companies are able to solve their problems and will exert every effort not to be impacted by the sanctions.

The official noted that Oil Minister Bijan Namdar Zanganeh is seriously seeking to provide the grounds for financing the ongoing petrochemical projects, saying that the initiative for funding the projects through bonds is underway.

Mohammadi expressed optimism that funding of the projects would take place within a few months.

Earlier this week, the official said Iran’s petrochemical production capacity would exceed 100 million tons per year once the sector completed its under-construction projects by 2025.

“So far as the law allows, NPC would exert every effort to solve the problems of petrochemical facilities and support them,” he said.

The official attached great importance to the petrochemical industry as "one of the country’s economic priorities," adding that “last year, some $12 billion in revenues was generated through the exports of petrochemicals.”

MNA/SHANA

News Code 141221

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