Iran's petrochemical industry needs fresh investment totaling US$4.5 billion, said Oil Minister Bijan Namdar Zanganeh on Saturday.
Addressing an inaugural ceremony of the 3rd International Conference on Petrochemicals in Tehran, the minister called on the country's petrochemical industry to embark on all-out efforts to seek new financial sources at international levels, reported the official Iranian news agency IRNA.
The minister added that in the third development plan
(March 2000-March 2005), transparent policies for industrial development would be adopted.
“They include demolition of a great number of state monopolies, privatization, increasing productivity, underscoring competitiveness and paving the way for absorbing additional direct investments,” he said, cited by the agency – Albawaba.com
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