Ali-Mohammad Bosaqzadeh said the private sector is currently unable to finance petrochemical development projects.
“An option for skirting international sanctions is to make maximum use of petrochemical products inside the country. The sanctions become effective when we have an exports-based economy,” he said, adding that the sanctions would be less effective on an “endogenous” economy.
Iran Petrochemical Commercial Company (IPCC) exported 838 million dollars worth of petrochemicals during the first four months of the current calendar year which started on March 21.
The exported products, weighing 831,000 tons, mainly included propane and butane.
Iran produced 40 million tons of petrochemicals in the last calendar year, with 9 billion dollars worth of its products being exported.
The country plans to increase its petrochemical exports to 12 billion dollars this year.
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