Iran petchem progress not affected by sanctions: MP

SHANA – A member of the Iranian parliament says the US sanctions on Iran’s economy had the least impact on the accelerating pace of the country’s petrochemical industry.

Sayed Ali Adyani told Shana that the petrochemical industry was one of the most lucrative sectors of the country’s economy, adding that the sector had gained massive growth over the course of the past 41 years.

The petrochemical industry continues to develop despite sanctions, the MP said, adding, “There are already good resources and infrastructure for this sector in the country, and the petrochemical industry can undoubtedly accelerate the economic development of Iran.”

He said the petrochemical industry was one of the most profitable industries in the country, adding: “The petrochemical industry is a mature industry because they produce end-user items and is about to undergo a major leap by 2021.”

The member of the Parliament’s Energy Committee stated: “To achieve the goals envisaged in the path of development of the petrochemical industry, in addition to new investments and completion of under-construction projects, it is necessary to avoid crude oil and gas and diversify export mix of the industry.”