Three Petrochem Plants Under Development

Tehran, April 5, IRNA - President Hassan Rouhani said his administration has cut Iran’s galloping inflation rate to 19.5 percent month-on-month. The development of three petrochemical plants has started, said the managing-director of Petrochemical Industries Development Management Company. Majid Mahmoudian said Hangam, Bouali and VenIran plants are under development the Petroenergy news network SHANA reported on Saturday. Mahmoudian added that the PIDMC plans to broaden its activities in other sectors of the petroleum industry, including power plants. The official said VenIRan is an Iran-Venezuela joint venture project whose implementation will be accelerated soon. Mahmoudian said the Venezuelan party has promised to meet its obligations in the project. Abbas She’ri-Moqaddam, manager of National Petrochemical Company, recently said that Iran is determined to revive its petrochemical industry./end