Rouhani lauds launching petchem projects despite sanctions

MNA – Iranian President Hassan Rouhani lauded the inauguration of three major petrochemical projects with a total investment of 1.6 billion dollars as a major step towards development despite sanctions.

“Today we are witnessing the transformation of the petrochemical industry. Today’s inaugurations were doubly gratifying, because when we want to distance ourselves from crude oil exports and turn them into valuable products, one of the ways is to develop and transform the petrochemical industry,” said Rouhani on Thursday ​​at the inauguration ceremony of Kaveh Methanol and Kimia Pars Middle East projects in Bushehr and Lorestan Petrochemical Catalyst unit, via video conference.

“The inauguration of three important national and petrochemical infrastructure projects worth about $1.6 billion is a valuable step in the development of the country,” Iranian President noted.

He added, “As the Minister of Petroleum stated, the total value of our petrochemical production in 1997 was one billion dollars, which at the beginning of the Administration of Prudence and Hope, this figure reached $11 billion.”

Rouhani stated that 17 petrochemical projects would be inaugurated in the country this calendar year, which began on March 20, and specified, “These projects are for setting the ground for and materializing the third leap of the petrochemical industry, which will take place in 1404 (2025).”

He continued, “The value of our petrochemical production was $1b, which has now reached $11b, and again it will increase from $11b to $25b, and from $25b to $37b, which means a great development in the country’s petrochemical industry.”