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Iran Invests $11b in Petchem Industry in 1399

Iran Invests $11b in Petchem Industry in 1399
(Friday, July 9, 2021) 23:44

TEHRAN (NIPNA) – Iranian President Hassan Rouhani said the country had invested 11 billion dollars in the petrochemical industry over the course of the previous Iranian calendar year of 1399 which ended on March 20.

"People should know that we were able to run the country with the problems we had in the economic war," he said. "In 1399, more than $11 billion was invested in the petrochemical sector."

According to President.ir, Dr. Hassan Rouhani, on Wednesday, told the government cabinet: "It is important that the main causes of the power problems of the country are given a close look to try to solve the problems.”

"Forecasts are sometimes inaccurate and natural and unnatural disasters such as floods and earthquakes, droughts and sanctions and economic warfare may cause problems for the people," he said. "We need to know the root of the problem in terms of electricity shortages in the country."

Emphasizing that the necessary investment must be made to achieve the desired result and success in various fields, the President stated: "Without capital and with empty hands, nothing can be done and today it must be explained to the people what the problem is and why we cannot supply enough capital to the country's market.”

"$128 billion has been added to the volume of non-oil exports under the 11th and 12th governments," he said. "Where did this export come from? It was mostly from the petrochemical, steel and other sectors.”

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