MINEM: Legal framework for the development of the petrochemical industry will be published at the end of September

The following is a machine translation of a Minem release

The Ministry of Energy and Mines (MINEM), through the Vice Ministry of Hydrocarbons, is coordinating efforts with the competent entities to develop the regulatory framework that will promote the development of the petrochemical industry in Peru, through measures that provide incentives to attract investments in this activity.

Iris Cárdenas, Deputy Minister of Hydrocarbons of the MINEM, once again called on companies interested in investing in the development of the petrochemical industry in Peru, with the presence of representatives from Enaex (Chile), Orica (Australia) and the Antioquian Fertilizer Company EAFER Sas (Colombia).

"We have prepared a proposal, taking into account all the contributions and concerns presented to date. The regulations will be published at the end of September, thus guaranteeing the development of the petrochemical industry in our country," said the MINEM official.

As part of the presentation, the MINEM team stressed that it is working to adopt measures to shorten the time taken for administrative procedures and processes related to private investment, in order to achieve conditions that allow the petrochemical industry to be sustainable over time.

"The Government's priority is the installation and operation of petrochemical plants that guarantee the production of urea and fertilizers to supply national agriculture at competitive prices," said Ricardo Villavicencio, Director of Processing, Transportation and Marketing of Hydrocarbons and Biofuels at MINEM.

He also said that there are many petrochemical products that the country needs for domestic consumption or for export, something that also contributes to the country's economic growth.

It is worth mentioning that the MINEM seeks to raise and report, in an equal manner, on the progress of the regulations, and to receive feedback from interested companies, which have a deadline to be able to provide their contributions that add to an improvement of the standard and to be able to evaluate the progress presented for future decisions.