Iran Petchem Industry on Track for Growth – Lawmaker

Iran Petchem Industry on Track for Growth – Lawmaker
(Wednesday, January 1, 2025) 09:29

TEHRAN (NIPNA) – A member of Iran’s Energy Committee in Parliament said the country’s petrochemical industry is rapidly developing, achieving notable milestones in recent years.

Mansour Shokrollahi, speaking with NIPNA, highlighted that new investments and the completion of unfinished projects could further transform Iran’s economy. "Even under sanctions, the petrochemical industry has significantly contributed to foreign exchange earnings, playing a pivotal role in economic transformation and boosting non-oil exports," he stated.

Calling petrochemicals a leading industry, Shokrollahi emphasized its potential to be a cornerstone of Iran’s economic development under the framework of the country’s resistance economy policies.

“The value-added aspect of petrochemical production is critical to reducing raw material exports. To improve current conditions, enhance global market presence, foster entrepreneurship, and increase employment, we must shift toward converting raw materials into high-value final products," Shokrollahi noted.

He also underscored the unparalleled capacity of Iran’s petrochemical sector. By completing the value chain and expanding downstream industries, the sector could supply a variety of products to both domestic and international markets.

"We expect Iran’s petrochemical industry to maintain its standing, given the country’s abundant resources, and to expand its presence in regional and global markets in the future," he concluded.

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