PGPIC Mulls Launching €5b Project in Iran

PGPIC Mulls Launching €5b Project in Iran
(Saturday, January 20, 2018) 19:20

TEHRAN (NIPNA) -- The Persian Gulf Petrochemical Industries Company (PGPIC) is considering construction of a project valued at over 5 billion Euros in Iran with a European partner, PGPIC managing director said

Speaking to NIPNA, Adel Nejad Salim said his company is also considering another project worth two billion Euros with another European partner in Iran. The two projects will be constructed in the future years.

He said the first project will concern production of a specific petrochemical item in Pars Special Economic Energy Zone in Asalouyeh, south of Iran, and the other one will be developed as a downstream polyethylene project.

He said PGPIC's output crossed 18.5 million metric tons in the first 9 months of the current Iranian calendar year which began on March 21, adding the output was 100% of the company's estimated production and shows 106% growth from the same period last year.

Nejad Salim further said that the company also generated $6.5 billion by selling its productions of which $4b was exported (up 10% year-on-year) and the rest was generated by selling items on the domestic market.

The CEO said PGPIC has devised plans to launch projects with a total value of 6 billion Euros in Iran within the next two years.

Email is required
Characters left: 500
Comment is required