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NPC Deputy Chief: State Funds Necessary for Petchem Growth

NPC Deputy Chief: State Funds Necessary for Petchem Growth
(Sunday, December 13, 2015) 17:30

TEHRAN (NIPNA) – Vice President of National Petrochemical Company (NPC) says infrastructural petrochemical projects funded by the government are a must for development of the industry in Iran.

Mohammad Hassan Peyvandi said Iran's petrochemical industry enjoys very favorable infrastructures for development of the industry but many more projects need to be funded by government resources for the sector's rapid growth. 

Addressing the opening ceremony of the 12th Iran Petrochemical Forum, IPF 2015, here in Tehran on Sunday, he said, "The successful development of the industry is directly hinged upon support and endorsement of investors by the government for creating the industry's infrastructure." 

"The petrochemical sector in Iran has maintained its growing trend despite the sanctions which were imposed on the country over the course of the recent years," he added. 

He called on the Rouhani administration to spare no effort to fully endorse setting up of petrochemical infrastructure in Iran. 

"I believe, as a servant of the industry for 35 years of my life, that the government's investment in the sectors infrastructure is a necessity for its development," he added. 

Iran has 67 half-finished petrochemical projects with 20 to 90% physical progress which are planned to come on-stream based on a schedule, he added. 

Some 97 foreign companies from 25 countries have participated in IPF 2015 which shows an increase of 120 percent compared to IPF 2014.

More than 15,00 representatives from domestic and foreign firms including Australia, Azerbaijan, Canada, Denmark, France, Germany, Japan, the Netherland, Russia, and US are taking part in the event.

Participants in the IPF2015, one of the world’s most prestigious events representing the petrochemical industry, are discussing the core issues that the industry is facing with the emphasis given to Iran. 
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