TEHRAN (FNA)- Deputy Oil Minister for Petrochemical Industry said the ministry will support the capable companies from the private sector in its projects.

�The National Iranian Petrochemical Company (NIPC) would like to help tap the potentials of the private sector to develop the industry,� said Abbas Sha�ri-Moqaddam who is also the company�s CEO.

Referring to the need to employ modern technology in the petrochemical industry, he stressed transfer of know-how, indigenization of technology, and research activity to secure achieving the objective of Second Leap as suggested by the minister.

Iran�s Petrochemical Commercial Company (PCC) exported 2.48 million tons of petrochemical products valued at 1.629 billion dollars during the first half of the current year (March 21-Sept 22).

The company announced that with completion of phases 15-18 of South Pars gas field and production boost, the export value can hit 2 billion dollars by end of the year (March 20).

Based on the policies of the Ministry of Petroleum which discourages crude sale of products in a bid to boost employment, PCC expects that petrochemicals� annual production can amount to 120 million tons.

The output can pass 180 million tons after an investment of 41 billion dollars.

By Fars News Agency