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5/7/05

Oil Minister: Developing Iran's petrochemical industry, a top priority

Tehran, May 7, IRNA-Oil Minister Bijan Namdar Zanganeh said on Saturday that the Iranian government gives a top priority to the development of petrochemical industry in its economic planning.

Making the remark in the opening ceremony of the 7th International Petrochemistry Conference in Tehran on Saturday, Zanganeh said the policy indicated the strategic importance the petrochemical industry enjoyed in the country's fourth development plan.

He believed the petrochemical industry as a whole together with gas and oil industries could potentially act as the driving engine for the country's economy and also to attract foreign capitals and modern technology.

He referred to possession of huge gas reserves, political stability, dynamic economy, large domestic market, skilled work force, laws supporting foreign investments, import and export incentives offered in special zones, good relations with neighboring countries and proper geographical situation as the advantages of the Iranian petrochemical industry.

Pointing out that the country's capacity to produce petrochemical products has risen to 19 million tons last year from 13 million tons in 1997, the minister noted that the National Petrochemical Company has managed to increase its production capacity to 1,600,000 tons last year.

Zanganeh further welcomed participation of foreign investors and those possessing technical know-how in Iran's petrochemical projects.

Petro Pars to implement project on 12th phase of South Pars Gas Field

Oil Minister Bijan Namdar Zanganeh said in Tehran on Saturday that Petro Pars Company has been assigned with the project on development of the 12th phase of South Pars Gas Field.

Speaking to reporters on the sidelines of the inaugural ceremony of the 7th International Petrochemical Conference, he added that once the process of drawing up the relevant agreement is completed, it will be signed.

Concerning the new round of negotiations with India and Pakistan, he said that they have not yet been initiated.

The Indian oil minister is due to visit Pakistan in May.

He hoped that the visit will pave the way for the tripartite oil ministers meeting.

In response to the question whether bilateral talks with Pakistan on establishment of pipeline will continue if the desired result is not achieved, he said that the issue should be further examined and underlined the long-term significance of the trilateral talks from political and economical points of view.

Zanganeh said that bilateral talks will be held during the June visit of the Indian officials to Tehran.

... Payvand News - 5/7/05 ... --



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