24 June 2021 - 16:32
  • News Code: 317782
PGPIC Building 16 Petchem Projects

TEHRAN (Shana) – The CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) said the holding company is currently building 16 petrochemical projects with an investment of $17 billion.

Emphasizing the development of the petrochemical industry along with production, Jafar Rabiee said: "Currently, 16 petrochemical projects with a capacity of 21 million tons and an investment volume of about $17 billion are being designed and implemented in this holding.

Addressing a remotely participated-in ceremony to launch Bu Ali Sina Petrochemical Plant’s light cut sweetening unit, he said: “The large family of petrochemical industry and zealous colleagues in the Persian Gulf Petrochemical Group have performed greatly in the production, export, hard currency generation and development of the petrochemical industry during the difficult years of sanctions, economic war and the coronavirus pandemic.”

He said currently 13 production companies of the Persian Gulf Holding with a total annual capacity of 28 million tons and actual production of 21 million tons of products in 2020, produce 65 petrochemical products, adding that the Persian Gulf Holding exports last year generated roughly $3 billion and domestic sales amounted to Rls. 730,000 billion.

The PGPIC CEO, emphasizing that in addition to production, the development of the industry is also on the agenda, continued: “Currently, 16 petrochemical development projects with a total capacity of 21 million tons and an investment volume of about $17 billion are being designed and implemented in this holding.”

Rabiee further noted inauguration of four PGPIC projects last calendar year which ended on March 20, and said: "The largest of these projects was the Bidboland Persian Gulf super project with an investment of $3.4 billion."

He pointed to the implementation of downstream projects with the participation of the private sector, and said: “In this area, seven projects with a total capacity of 3 million tons and an investment volume of $490 million are being implemented.”

News Code 317782

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