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Iran Eyes Stunning Petrochem Output Growth in New Calendar Year

Iran Eyes Stunning Petrochem Output Growth in New Calendar Year
(Sunday, April 5, 2020) 17:29

TEHRAN (NIPNA) – An official with the National Petrochemical Company (NPC) said several projects were planned to come online in the Iranian petrochemical industry in the current Iranian calendar year which began on March 21, which would create a stunning increase in the country’s output.

The company’s director of projects, Ali Mohammad Bossaqzadeh, stated: The petrochemical industry is trying to make the most out of the domestic facilities and capabilities in the year of "Production Leap".

Supreme Leader Ali Khamenei has named the current Iranian calendar year of 1399 as the year of “Production Leap”.

Bossaqzadeh said that the petrochemical industry is now the center and pillar of the country's economic development and is in contact with all sectors of industry. "Directing resources towards production and preventing the waste of national resources can lead to the second and third leaps in the petrochemical industry," he said. 

Noting that the balanced development of the petrochemical industry as a strategy is of particular interest for NPC, which serves as the sector’s regulator now that the industry is being run by the private sector, the board member of the company further said: "In this direction, the development of downstream petrochemical industries in line with the economy of resilience policies prevents the sale of raw materials and generates high value added.”

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