During the groundbreaking ceremony for the Siglo Petrochemical
Project, Javad Owji expressed satisfaction with the commencement of a
complementary methanol project in the country, stating that there has been very
little development in the methanol chain in recent years.
He referred to the country's massive investment in methanol production
units and emphasized that a significant portion of the production from dozens
of methanol complexes is exported. Given the decrease in the global price of
this product, many production units in this field may face losses, so it is
necessary to consider developing the complementary value chain of this product.
The Minister of Petroleum stressed his happiness with the start of the
project and expressed hope that other investors in the country, like the
investors of this project, show intelligence and acumen when making profitable
Owji stated that in terms of providing infrastructure and feedstock,
they open their protective umbrella over the heads of both domestic and foreign
He also regretted that there has been negligence in investing in the
petrochemical value chain over the past two decades, highlighting that this
type of investment is low-risk and high-yield.
The Minister of Petroleum continued his journey to the Fars province,
representing the government during the morning with the aim of launching
several projects in the oil and gas sector.