Feb 6, 2021, 7:20 PM
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Value of Iran’s petrochemical products to hit $25bn by March 20: VP

Kermanshah, IRNA – First Vice President Eshaq Jahangiri said here on Saturday that before the start of the new Iranian year (to start on March 21, 2021) the value of Iran's 100 million tons of petrochemical products will reach 25 billion dollars.

According to an IRNA reporter in Kermanshah, Jahangiri who was speaking at the groundbreaking ceremony of Eslamabad-e Qarb Petrochemical Project reiterated that the petrochemical industry is one of the most important pioneers in Iran's economic development projects.

"During the US imposed economic campaign against Iran when Iran's oil exports faced difficulties, it was the petrochemical industry that provided the country's foreign currency needs," Jahangiri added.

The first vice president said that the Americans had assumed if they cut the country’s oil exports, they could bring Iran to its knees; but the strong will and bravery of our oil industry personnel and officials of the Petroleum Ministry defeated the Americans.

"The US sanctions led to Iran’s $100 billion oil-sales loss, and if it had not happened, the current economic conditions would have not taken place," he stressed.

Jahangiri said that the Iranian petrochemical industries provided billions of dollars for the country during those tough days, using which we provided the raw materials for different industries in order to help them keep functioning.

The petrochemical industries and those of its managers who serve this country and nation should be highly respected and appreciated, he said.

Jahangiri said that the Eslamabad-e Qarb Petrochemical Project is one of Iran's most important petrochemical projects, and while in the year 1978 "we were importing shovel-sticks from abroad, we are now capable of manufacturing the most complicated petrochemical industry machinery inside our country".

Jahangiri said that the Eslamabad-e Qarb Petrochemical Project, the invested capital for whose construction is estimated to be $545 million, will produce polypropylene, adding that the entire phases of its construction and production are done by Iranian experts and engineers.

The first vice president asked the Iranian private sector to construct hundreds of factories near the Eslamabad-e Qarb Petrochemical Factory to turn its product into goods to be sold in Iran and abroad.

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