PGPIC Running $8.5b Projects: CEO

(Friday, March 8, 2019) 21:22

TEHRAN (NIPNA) -- The CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) said the company's development plans were worth $8.5 billion.

Jafar Rabiei said on Thursday that the holding’s new approach was, in addition to producing and exporting, development of the industry in new projects, and said: “The holding, as the largest indicator of the petrochemical industry in Iran with a diverse range of products and a large number of subsidiaries, is seriously viewing development of the petrochemical industry and has defined new projects with technical and economic considerations.”

He said at present, PGPIC has invested $8.5 billion in new projects of which three, including Bidboland II Gas Refinery, Lordegan Urea and Ammonia Plant and Ilam Olefin Project, will come on-stream during the next Iranian calendar year which begins on March 21.

Rabiei continued: “Today, the petrochemical industry, with the help of the National Iranian South Oil Company (NISOC), is ready to shut down flare stacks and collect gas for feeding petrochemical units.”

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National Petrochemical Company