According to the National Petrochemical Company (NPC), Hossein Shahryari outlined the holding’s future investment plants, stating that last year the company related its interest in investing in petrochemical projects to the National Petrochemical Company (NPC) and plans were under way for POGDC to join olefin production projects.

“Because of the fact that legally speaking the investor is required to supply only 20 percent of the project’s investment and the rest will be procured by financing, we have no trouble in this regard and we have set definitive plans to join projects in the Parsian Energy Intensive Industries Zone,” he said.

The official also expressed optimism that the holding would supply urea and ammonia as planned this year.

Shahryari added that POGDC was also considering investment in Phase II of Kermanshah Petrochemical Plant as well as Kian Petrochemical Project which is one of the largest producers of olefins in the country.

Parsian Oil and Gas Group (Public Joint Stock Company) was registered as a joint stock company in the Register of Companies and Non-Commercial Companies Registration Office of Tehran on 08/08/2008 with the initial name of Alvand Development Corporation of Ghadir Development Company.