7 June 2022 - 15:13
  • News Code: 457854
Petrol to Build Downstream Parks

TEHRAN (Shana) -- The CEO of Petrol announced the construction of two new downstream parks as the company's future plans.

According to Persian Gulf Petrochemical Industries Company (PGPIC), a ceremony honoring Rasoul Ashrafzadeh, former CEO, and introducing Rashid Ghanei, the new CEO of the Persian Gulf Petrochemical Complex Investment and Development Group (Petrol), was held on Monday (June 6).

Rashid Ghanei, the new CEO of Petrol, while appreciating the efforts of Ashrafzadeh, the former CEO of the company, said: “The general plan of Petrol for shareholders will be to continue completing the value chain in the field of intermediate, downstream and development of petrochemical parks.”

He continued: "In the last few months, good studies have been done in this field and we hope to be able to continue this path in the oil complex and prevent crude sales."

The CEO of Petrol added: "In a way, our current petrochemical chain has a lower value added compared to the world, and the completion of this value chain will lead to a much stronger profit of oil, and this profitability will benefit its shareholders."

Ghanei noted: “Construction of two new parks will be one of the future plans of Petrol, one of which in Assaluyeh, where the initial design was done and finally the capacity and capital of the people will be used, and it will increase profitability.”

Settlement of Petrol's Largest Hard Currency Debt

Rasoul Ashrafzadeh, the former CEO of the company, also pointed to the major financial achievements of Petrol in these four years, and said: "The first big thing that was done in this complex was to settle the biggest hard currency debt of Petrol."

He added: "Another achievement of the group in the capital market has been the placement of oil in the first board of the stock exchange and 110 million Euros of finance."

The former CEO of Petrol continued: "In these few years, we defined 6 new projects that will be launched for the first time in the country.”

News Code 457854

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