News Agency - Detail

Bank to Join PGPIC Projects

Bank to Join PGPIC Projects
(Saturday, February 5, 2022) 17:36

TEHRAN (NIPNA) -- The CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) and the CEO of Bank Sepah held a meeting to discuss furthering ties in financing petrochemical projects run by the former.

Speaking in a Saturday meeting with Ayatollah Ebrahimi, the CEO of Bank Sepah, Abdul Ali Ali Asgari said: "This company seeks to accelerate the financing of the group's projects by tapping the capacities of the banking system and the capital market."

The meeting was held to expand the bank's cooperation with the country's largest petrochemical holding.

During the meeting Mr. Ali Asgari expressed hope for expanding the group's relations with Bank Sepah, and said: "Today, several banks have been consolidated in Bank Sepah, which is a great work in the history of the country's banking, and we also see that this bank is integrating the banking system and making it the largest bank in the country."

"The Persian Gulf Petrochemical Industries Company is a non-governmental company with millions of Iranian shareholders," he said.

The PGPIC CEO noted that the next step of this company is to upgrade the group's position in the capital market, which will cause the growth of the group's shares and the profit of this growth to the shareholders.

Ali Asgari continued: "Development of the value chain of the petrochemical industry in the Persian Gulf Holding is on the agenda, in such a way that it provides investment opportunities in the middle and downstream industries and by creating or supporting medium and small knowledge-based companies, we create more wealth and increase employment, which is emphasized by the Supreme Leader.”

Referring to the Ministry of Petroleum's emphasis on the investment of the Persian Gulf Group in the upstream part of the oil industry, he said: “The holding is seeking to enhance its feedstock intake from oil field and send it to petrochemical plants to activate their full capacity.”

Email is required
Characters left: 500
Comment is required