Financing, PGPIC Priority for Defining New Projects: CEO

Financing, PGPIC Priority for Defining New Projects: CEO
(Sunday, October 20, 2019) 18:24

TEHRAN (NIPNA) – The CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) said the holding considered financing issues as the first things to be sorted out before defining a project.

Jafar Rabiei said on Sunday: "We only launch projects whose financial resources have already been determined and are ensured to supply value-added and high-value products."

Speaking to NIPNA, the official said sorting out financing methods for projects was PGPIC’s priority for defining them, adding the holding shunned introduction of new projects without financing resources because this would last much longer than expected creating trouble for everyone.

He said the holding would only initiate new projects when it ensures it would be of high profit for the company.

This is to say that all the projects under construction by PGPIC have clear financing resources and will generate a lot of value added after completion, he argued.   

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