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PGPIC Plans Expansion Projects

PGPIC Plans Expansion Projects
(Tuesday, May 2, 2023) 14:51

TEHRAN (NIPNA) -- The CEO of the Persian Gulf Petrochemical Industries Company (PGPIC), Abdul Ali Ali Asgari, announced that Persian Gulf Holding is implementing 9 downstream parks to prevent crude sales in the petrochemical industry.

During a specialized meeting at the 14th Iran Petrochemical Forum (IPF), he emphasized that the development of the downstream industries has not been done enough and does not have a special guardian.

The CEO of Persian Gulf Petrochemical Industries Company added that the company made a net profit of 95,000 billion tomans last year, and this year this figure exceeds 135,000 billion tomans.

He also mentioned that the company earned $6.2 billion in hard currency last year and that the domestic sales of their feed meet the needs of thousands of domestic companies.

Ali Asgari pointed out that the Persian Gulf Petrochemical Industries Company has 28 projects worth $15 billion in progress, and stated that excluding raw materials means completing the value chain. Therefore, they are adding downstream projects to the company's plans, and they have put the creation of downstream parks on the agenda.

He emphasized that the construction of downstream parks with the Persian Gulf as a priority has already started, and Makran, Jask, Chabahar, Parsian, Naiband and Genaveh are among the places considered for the construction of these parks. The implementation of 9 parks has been decided, and they are currently obtaining the necessary permits for these plans.

Ali Asgari emphasized that Persian Gulf Holding welcomes investors interested in these projects and that the activists of the petrochemical industry can participate in these projects in order to get out of crude oil trading, which is a big step for avoiding selling raw materials.

He also mentioned that the gas refining project of this company was put into operation a few days ago, which has the capacity to collect 500 million cubic feet of gases associated with oil daily, turning it into wealth.

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