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FinancialNews
08-07-21
Iran: Value of petrochemical product exports reaches USD2.7B
(MENAFN)According to a National Petrochemical Company (NPC) board member, improving downstream industries in Iran’s petrochemical sector will create three times more added rate than selling raw materials.
The worth of petrochemical product exports amounted at USD2.7 billion that shows that USD3, 000 more revenue was earned for each ton of petrochemical exports compared to selling raw materials.
“We are trying to steer the economy in a direction that is oil-based instead of "oil-dependent", and the development of complementary downstream industries is an example of this principle,” Bayat further declared at the International Conference of Export Development in Polymer Industries in Tehran.
He added that “We are not going to produce oil as black gold and sell it to others to process it into white gold [petrochemical products], the added value of petrochemical products is much more than black gold [raw oil], and so oil must be converted to other products by downstream industries so that all could benefit from it.”
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