According to
the Deputy Minister of Economy and Commerce and member of the board of
directors of Isfahan Oil Refining Company and Isfahan Petrochemical Company, the
company has taken a fundamental step to become a petro-refinery by having acquired
about 42% of Isfahan Petrochemical Company’s shares, reported the refinery.
Mehdi Sarami
stated that the Isfahan refinery provides 100% of the province's petrochemical
feedstock, adding: "By converting the Isfahan Oil Refining Company into a
petro-refinery and investing in downstream industries that depend on the
refinery and feed themselves from this huge industrial complex, the needs of
other industries will also be met.”
He noted that
today the developed countries of the world are moving towards establishment of
petro-refining units (integration of petrochemical and refinery units) and this
trend shows its special importance, adding: “Enhanced profitability, reducing
pollution, reducing feedstock costs and management Integration are some of the
benefits of petro-refineries.”