Iran’s private petrochemical industry lacks capital

Jul 07, 2004 02:00 AM

"Domestic manufacturers in Iran’s petrochemical industry cannot afford the heavy investment of petrochemical projects,” Mohammad Jafari, Managing Director of Pars Manufacturing, said on the sidelines of the 9th Oil, Gas and Petrochemical Exhibition currently underway in Tehran.
He referred to lack of sufficient credit as one of the problems of Iranian manufacturers and contactors in this field adding: "The issue of taxes is another problem of the domestic petrochemical industry. The manufacturers have to pay a fixed tax whether the good is still in the process of manufacture or has been already produced."

"When a petrochemical project is launched, both foreign and domestic companies are invited to cooperation.”
However given the great number of such projects, the government is not able to financially support all of them while the private sector also cannot afford the heavy costs of the plans and that’s why the government has no way but to ask the foreign companies for help and then it’s the foreign companies that choose their desired contractors and the Iranian companies and contractors have to work according to the rules set by the foreigners." Jafari noted.

Source: IranMania News
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