Iran's oil minister proposes to setup fund for petrochemical projects
Iran's Oil Minister Bijan Zanganeh said that the creation of a fund for the development of downstream petrochemical projects is on the agenda, Trend reports citing Iranian Young Journalists' Club website.
“The activity of refineries and petrochemical units and the volume of sales of their raw materials to downstream units in April of this year has decreased by 40 percent compared to the same period last year, which indicates that the units are closed,” Zanganeh stated.
“Petrochemical units are interested in selling their products inside the country, because, firstly, the products are being priced through the stock market, and secondly, they do not have export problems,” he said.
Zanganeh went on to say that the oil ministry has taken steps to support this sector.
“We have defined the petrochemical projects in four chains of methanol, profile, ethylene and benzene, to help the private sector investment in these areas," he said.
He added that the establishment of non-governmental petrochemical support and downstream development projects fund is on the agenda.
“The government is helping to support the downstream units,” said Zanganeh.
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