TEHRAN, Iran, Feb.15
Trend:
There are already $30 billion worth semi-finished petrochemical projects in Iran and the country should try to use public and private capital to finish these projects, Iran's Oil Minister Bijan Namdar Zanganeh said.
"If oil and petrochemical projects are activated, other industrial sectors in the country, including Iran's Heavy Equipment Production Company (HEPCO) will also be active," Zanganeh said during a conference on financial system development in the oil industry, Trend reports citing Tasnim News Agency.
The National Development Fund, banking resources, government bonds and selling shares via the Exchange are the resources the country has used to develop its oil sector, he said. "We need to look for other ways to finance our oil industry projects."
He said that $12 billion worth projects in the petrochemical sector have been finalized but have not yet begun.
Encouraging the private sector, Zanganeh said that it is also possible to invest $20 billion in the petroleum sector.