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Deputy Oil Minister: Iranian petrochemical industry will not import equipment unless it is unavailable in Iran

Friday, 18 May 2012

Deputy Oil Minister Abdulhussein Bayat said that Iran currently uses USD 1.5 to 2 billion in credit to provide a range of goods, equipment and chemicals to the petrochemicals industries. He listed the conditions for ordering goods from abroad during the Year of National Labor and Production, as declared by the Supreme Leader, and stressed that all orders for goods and equipment by the petrochemical industries will be placed with Iranian manufacturers, if the required infrastructure exists in Iran. If not, the product may be ordered from a foreign manufacturer. Bayat asked the Iranian banking and financial network to augment its support for new ventures to develop the petrochemical industries. He said that the allocation of financial resources to preferred projects will bring prosperity to the petrochemical industries, while also improving the capabilities of local manufacturers.

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