BAKU, Azerbaijan, Feb. 7
Trend:
The first vice president of Iran predicted that the total production of the country's petrochemical industry will reach 100 million tons with a value of 25 billion dollars in the next Iranian year (starts on March 21, 2021).
Iran's first vice president Ishaq Jahangiri said attended the opening ceremony of the Islamabad-e-Gharb petrochemical project today on Saturday, Trend reports citing IRNA.
"The petrochemical industry is one of the most important drivers of the country's economic development," he said. "During the US economic war (against Iran), when oil exports were in trouble, it was the petrochemical industry that met the country's foreign exchange needs."
Jahangiri said that Iran lost $ 100 billion in oil revenues during the past 3 years.
"The petrochemical industry was able to provide billions of dollars to the country," he said.
He called Islamabad-e-Gharb Petrochemical Co. one of the most important petrochemical projects in the country.
"Islamabad Gharb Petrochemical Project will be implemented with an investment of $545 million for the production of polypropylene," said Jahangiri. "All stages of its construction will be done by domestic sector."