Iran's private sector ready to invest in refineries
TEHRAN, Iran, Feb.14
Iran's private sector is ready to participate in oil ministry's refinery plans, said the head of Tehran Chamber of Commerce Energy Committee.
"In regard to the increase of oil products production and distribution policies alongside lower finished price, the products have competitive advantage," said Reza Padidar, Trend reports citing IRNA.
"The cooperation contracts with private sector should be implemented. Oil is Iran's economic advantage, so there should be efforts to develop the potential oil economy," the head of the chamber said. "Confidence in the private sector will save the national economy."
"The oil ministry's call for investment in refinery plans indicates that private sector can provide 30 percent of investments while the remaining 70 percent will be funded from other ways including people's participation or credit from National Development Fund," Padidar said adding that the private sector has expressed readiness to directly participate in the refinery plans.
"Iran has access to big markets of 15 countries in the Middle East and 14 Eurasian countries, while 12 North African countries can be a good market for Iranian goods," he noted.