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PGPIC Eyes $13.5b in Revenues

PGPIC Eyes $13.5b in Revenues
(Sunday, May 15, 2022) 00:01

TEHRAN (NIPNA) -- The CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) predicted the total value of the company's products in the calendar year of 1401 (which began on March 21) would exceed $13.5 billion.

Abdul Ali Ali Askari said on Monday, May 15, that $5.5 billion would be obtained from exports and $7 billion from domestic sales.

After signing 6 agreements by PGPIC on the third day of the 26th Iran International Oil, Gas, Refining and Petrochemical Exhibition, he stated: “The Persian Gulf Holding programs for 1401 produced more than 20.5 Million tons of products, of which about 11 million tons will be sold on the domestic market and about 10 million tons will be exported.”

He added: "Therefore, the total value of the products of the Persian Gulf Petrochemical Company will reach $13.5 billion this year, of which 5.5 billion dollars will be obtained from exports and 7 billion dollars from domestic sales."

The CEO of PGPIC continued: “The protection of Persian Gulf Holding shares in the capital market is done by this company seriously, about 16 billion dollars is the main value of Persian Gulf Holding shares in the stock exchange, which is about 35 billion dollars by including subsidiaries.”

He pointed to the implementation of 21 projects worth $15 billion by PGPIC, and said: "Investing in the development of oil and gas fields is also one of the new activities that this holding has stepped in, and it has so far inked two MoUs with the National Iranian Oil Company (NIOC).”

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