TAPPICO Chief calls on Petchem Firms to Close Ranks in Int'l Trade

TAPPICO Chief calls on Petchem Firms to Close Ranks in Int'l Trade
(Monday, July 31, 2017) 18:08

TEHRAN (NIPNA) -- Mohammad Hassan Peyvandi, the managing director of Ta’min Petroleum and Petrochemical Investment Co. (TAPPICO), called on petrochemical companies to unit in their commercial activities.

Addressing a press conference on Monday, Peyvandi said petrochemical companies need to enhance their unity if they are to progress in the path of development and increased efficiency.

He said joint trade must be practiced by petrochemical plants for export of products, adding there are many troubles in export of petrochemical goods for petrochemical exporters in Iran which can be fully addressed by ensuring joint trade of petrochemical exporters.

Peyvandi said a united petrochemical company must be formed in Iran to represent all of the industry in international arenas.

One of the leading petrochemical holdings in Iran, TAPPICO has stocks in all petrochemical companies in the country including Persian Gulf Petrochemical Industries Company (PGPIC) with 8.5% ownership.

Moreover, the company has the lion's share of many key energy and petrochemical projects in Iran including Persian Gulf Star Gas Condensate Refinery.

Launched in 2002, TAPPICO is one of the subsidiaries of Social security Investment Co. (SSICO). It has had a rapid growth and development within a 13-year period.

With 32 management companies and subsidiaries in oil, gas, petrochemical, rubber and cellulose industries, TAPPICO owns a significant share in the country’s employment and production.

Currently more than 18,500 people are directly employed in TAPPICO Holding and its subsidiaries.

Also with a high variety of production in the member companies of this group, especially producing 10 out of 12 products in the global index of petrochemical products (IPEX), it is considered as one of the world’s top companies with diverse products.

Moreover, from 2007 to 2014, the company has had an average annual profitability of more than 80% which is indicative of the TAPPICO’s orientation towards sustainable development and rapid growth.

With regard to the vast oil and gas reserves and expert workforce, TAPPICO’s Board of Directors’ approach has been to extend investment in attractive areas of value chain of oil, gas, and petrochemical industry. The company aims to expand establishment of effective and win-win relations with national and international established companies for the purpose of joint investments; it also welcomes financing and other valuable offers for further effective cooperation.

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