Investment Crucial in Petchem Industry: Official

A member of the Iran-Italy Chamber of Commerce, Industry and Mines stressed the need for facilitating investment in petrochemical projects.
Ahmad Pourfallah, head of the Iran-Italy Chamber of Commerce, said facilitating investment conditions and providing new incentives could lead to the arrival of new domestic and foreign funds into the petrochemical industry. He said the petrochemical industry played an important role in the market, in a way that now a large percentage of the country's revenues was generated by the industry. The member of the Tehran Chamber of Commerce also underlined inauguration of Marjan, part of Damavand and the third phase of Pardis petrochemicals projects this calendar year, adding that the launch of such units was a huge task at a time that the country was targeted by economic sanctions. "Undoubtedly, construction and development of petrochemicals projects could play an important role in increasing employment, especially in oil-rich regions and petrochemicals industries, which could not be neglected,” he added. The official also said that the petrochemicals played a significant role in Iran's economic leap, emphasizing that if the conditions were met and the process of attracting investors was facilitated, this industry could attract large investments.