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Investing in Petchem Projects Curbs Imports: CEO

Investing in Petchem Projects Curbs Imports: CEO
(Tuesday, October 26, 2021) 19:22

TEHRAN (NIPNA) -- The CEO of the Petrochemical Special Economic Zone Organization said: "If the necessary investments are made in the operation of petrochemical projects, the country's need to import downstream products will decrease."

According to the public relations of the Petrochemical Special Economic Zone, Seyed Omid Shahidinia, on the sidelines of the opening ceremony of the exhibition and conference introducing investment opportunities and development in the field of oil, gas, petrochemicals and renewable energy, underlined the creation of sustainable job opportunities in 20 petrochemical industry-driven projects centered on the Mahshahr region, southwestern Iran.

Emphasizing that the Petrochemical Special Economic Zone has the infrastructure as well as the variety of feedstock and products of the upstream and middle industries necessary to attract investors to petrochemical industry propulsion projects, he said: "These projects are on a smaller scale (compared to large industries and require less investment.”

The CEO of the Petrochemical Special Economic Zone Organization added: "These projects provide the possibility of creating diverse and sustainable opportunities, and their exploitation eliminates the country's need for imports and, in a way, adds more value in order to prevent the loss of foreign exchange resources for imports."

Shahidinia added: “The main strategy of the petrochemical industry is the development of value chain for downstream products; good production has been done in the upstream and mid-stream sectors and by 2025, the production capacity of the products of this industry will increase significantly.”

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