Iran to privatize almost all petrochemical industry

Iran Materials 16 April 2012 18:23 (UTC +04:00)

Azerbaijan, Baku, April 16/Trend M. Moezzi

Almost 98 percent of Iran's petrochemical industry will be privatized for the next few months if the Persian Gulf Holding Company joins the list of private companies, Shana news agency reports.

At present, nearly 90 percent of Iran's petrochemical companies are private.

The privatization can increase its capabilities, Ali-Mohammad Bossaghzadeh, the production manager for the National Petrochemical Company, said.

Existing sanctions against Iran's oil industry also contribute it to become self-sufficient as the country's own specialists produce the required chemicals, catalysts, parts and equipment.