In a meeting with Iranian contractors, the minister said the country is expected to move towards sustainable economic growth.
Zanganeh said Iranian contractors should not limit themselves to projects inside the country, saying Iran’s economic structure has changed over years.
The minister said Iran enjoys great potentials with regards to petrochemical feedstock.
He added that the Oil Ministry has started plans for a jump in petrochemical industry.
Zanganeh said Iran earned one billion dollars from petrochemicals in 1997, noting that the figure has exceeded 20 billion dollars due to investment in downstream industries and South Pars gas field.
The minister said 75 billion dollars in investment is needed for a second jump in the petrochemical industry.
Zanganeh said National Development Fund (NDF) is expected to account for more than 70 percent of investment required for petrochemical growth.
The minister said the Oil Ministry however prefers to assign the projects to the private sector.
He said domestic companies must benefit from the potentials of foreign companies.
