Petchem Development Ensures Protectionism: MP

Aziz Akbarian, who presides over the parliament’s committee of industries and mines, said completion of the petrochemical value chain and development downstream industries could bolster domestic manufacturing and lead to economic growth. “Investment in the petrochemical industry, besides curbing sale of crude materials, could lead to production of end-user items,” the MP said. One of the basic pillars of the country's development in the present situation is construction and completion of petrochemical projects, which, in addition to the prevention of crude oil exports, would provide feedstock for downstream industries to strengthen national production and ensure economic development of the country, the MP added. He underlined the major petrochemical developments having taken place in the country in recent years, adding that completion of the sector’s value chain needed to be heeded for production of value-added items.