RIPI to set up knowledge-based companies

File photo shows installations at an Iranian petrochemical plant.

TEHRAN Dec 25 (Shana): The Research Institute of Petroleum Industry (RIPI) is to establish its first knowledge-based companies by the end of the current calendar year in March 2014, RIPI chief said.

Hamid-Reza Katouzian said knowledge-based companies will b a first step towards commercialization of technologies by this company.

He added that establishment of these companies faces no legal hurdles, noting that these companies must be active in the field of technologies required by the market.

Katouzian said the necessary feasibility studies must be conducted before such companies are formed.

He said RIPI is a strong arm of Petroleum Ministry in research and development, adding that the current administration focuses on specialty and knowledge.

Katouzian also said that a law adopted by former parliament on efficient energy use will take effect.


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