Addressing a group of officials in charge of petrochemical industries, Zanganeh hailed the petrochemical industry in Iran as a progressive industry and the driving force of major sections of national industries as well as focal point of non-oil exports.

Petrochemical industries is not simply producer of the chemical fertilizers today, rather it produces variety of petrochemical products, said Zanganeh, adding that Iran's petrochemical output will reach 35 million tons by end of the Third Five-Year Economic Development Plan (2000-05) from 160,000 tons in 1965.

Relying on huge oil and gas reserves and benefiting from skilled manpower, Iran's petrochemical industry can play a grave role on the world markets and development of the petrochemical industry would play an important role in employment and creation of jobs, he added.

He said establishment of necessary infrastructures, training of the skilled and specialized workforce, support for private sector and all-out support for investment in the petrochemical sector are among the important subjects which should be taken into consideration in order to develop the industry.

Iran's petrochemical industry owes its present position to endeavors and devotion of tens of thousand people over the past 40 years, he added.

Meanwhile, Deputy Oil Minister for Petrochemical Affairs and Managing Director of National Petrochemical Company (NPC) of Iran Mohammad-Reza Nematzadeh said that under a 10-year plan for development of the petrochemical industry, Iran's ranking will rise to 10 by 2014 from 80 at present.

The value of exportable petrochemical products would rise to dlrs 20 billion once a series of petrochemical projects come on stream, said Nematzadeh.