Currency fluctuations hindering investment in Iran petchem industry: Official

Tehran, Oct 17, IRNA – Despite enormous capacities in Iran’s petrochemical industry, currency fluctuations are hindering investment opportunities in this section, Moayyed Hosseini, an advisor to petroleum minister, said on Wednesday.

Iran’s downstream industries have lost markets in regional countries due to currency fluctuations and lack of raw materials, Hosseini said, addressing a conference on production and sustainable growth in Tehran.

Downstream industries have a 25-billion-dollar share of the regional markets, while Iran’s share is only about $1 billion, the official said.

He argued that expansion of downstream industries paves the way to pass behind the current “storm of unemployment”.

“Despite all the capacities we have, few investments have been attracted to downstream industries,” Hosseini said.

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