Petchem, Industry, Savior of Iran from Crude Oil Sales, Minister Says

Petchem, Industry, Savior of Iran from Crude Oil Sales, Minister Says
(Thursday, May 18, 2023) 16:35

TEHRAN (NIPNA) - The Minister of Cooperatives, Labor and Social Welfare said on Thursday that the petrochemical industry was a productive and job-creating industry, and said: "The petrochemical industry helps Iran to escape from crude oil sales and by completing the value chain of the petrochemical industry, a high value added is created that at that time it is us who sanction others."

 

 

Seyyed Solat Mortazavi said today (Thursday, May 18) during a visit to the 27th Iran International Exhibition of Oil, Gas and Petrochemicals: "Holding this exhibition with such quality is a cause of happiness and I appreciate all the people involved in the oil, gas and petrochemical industry as well as the participating companies."

He named heavy industries such as the oil industry as the lever of job creation, and said: "The oil industry is a mother industry that plays a very important role in welfare and job creation in the country."

The Minister of Cooperatives, Labor and Social Welfare also called the petrochemical industry a high-employment generator, and said: "The petrochemical industry helps Iran to escape from crude oil sales and by completing the value chain of the petrochemical industry, a high value added is created that at that time it is us who sanction others."

Mortazavi also signed eight contracts and memoranda of understanding between various subsidiaries of TAPPICO and various contractors in the academic, research and knowledge-based fields, and said: "In line with this goal, today in the field of production growth, eight contracts and memoranda of understanding were signed between various subsidiaries of TAPPICO and various contractors in the academic, research and knowledge-based fields."

The Minister of Cooperatives, Labor and Social Welfare continued: "In total, the agreements that were signed today will result in a foreign investment of €1 billion, which also has a rial investment, and we hope that it will reach production as soon as possible. We are thinking about production growth so that we can achieve the order of the Supreme Leader in this collection as soon as possible."

Mortazavi said that his colleagues at the National Pension Fund also had very desirable development projects in the Jam Petrochemical Complex, and said: "The Jam Petrochemical Project is also expected to reach production within a year. We also have the implementation of the Bakhtiari Petrorefinery project next to Masjed Soleyman Petrochemical Company on our agenda."

He stressed: "I hope that the efforts of the soldiers of the Ministry of Cooperatives, Labor and Social Welfare, as well as other domestic companies, will lead to cutting off dependencies and increasing production, which will certainly curb inflation by increasing productivity in the thirteenth government."

The 27th International Exhibition of Oil, Gas and Petrochemicals of Iran with the slogan "Oil Industry, Technological Production and Optimal Consumption" officially started on Wednesday (May 17) at the permanent location of Tehran International Exhibitions and will run until May 20.

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