Petrochemical Industry Flag-Bearer of Production Growth in Iran
Seyed Amir Hossein Madani, the representative of the first vice-president in campaign for the revival of economic units, elaborated on the credit sale of petrochemicals, saying, “Providing raw materials through credit financing has led to the revival of several factories and acceleration in the growth of production and job creation.”
He noted the in the past, only 100 billion tomans per month could be allocated to providing raw materials on credit but last month, the number has increased to 5,400 billion tomans.
“Last year, a total amount of 18,000 billion tomans of credit financing was provided in the field of petrochemicals,” Madani said.
Reports said in December that the value of Iran’s petrochemical exports rose by 30% year on year in the 7 months of the last Persian calendar year (started on March 21, 2022).
The Iranian oil ministry announced that the nominal capacity of Iran’s petrochemical industry in 2001 hit about 16 million tons, the rate of which stood at about 90 million tons this year, showing considerable growth during these years.
Despite the imposition of tough and cruel sanctions against the Iranian petrochemical industry, they could not halt the country’s petrochemicals export.
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