Petchem Firms Enjoying 20% Share in Capital Market

(Wednesday, October 9, 2019) 19:28

TEHRAN (NIPNA) – Iranian petrochemical companies own 20 percent of the country's capital market, the CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) said.

Addressing a specialized panel at the 5th Oil and Power Congress on Wednesday, Jafar Rabiei said financing projects in the energy sector has always been a major concern for managers due to requiring heavy investments.

He said major corporations are trusted by the public and can use capital raising tools, such as stocks or stock-based securities.

“This was a move that the Persian Gulf Petrochemical Industries Company adopted last year with Rls. 10,000 billion of capital,” he said.

The official further added that PGPIC subsidiaries enjoyed 20% share in the capital market of the country.

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National Petrochemical Company