PGPIC Subsidiaries Target Product Diversification: CEO

PGPIC Subsidiaries Target Product Diversification: CEO
(Wednesday, November 6, 2019) 23:49

TEHRAN (NIPNA) -- The CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) said the holding company’s subsidiaries were planning to diversify their output.

Speaking on Monday, Jafar Rabiei said the task of PGPIC subsidiaries is to produce economically, and capacity-building should not be an end in itself; yet, production must be considered by analyzing the market and its demand.

Manufacturers and exporters are the forces of economic warfare in the current situation, he said, adding: “We therefore emphasize teamwork at PGPIC. We are a big family in the petrochemical industry that influence each other's victory and everyone in this team must do their job right.”

Regarding the duties of petrochemical companies while producing and creating value added, Rabiei said, "Our first task is to supply the domestic market. There are no petrochemical companies in the country that do not think about exporting, but the first priority is to supply the domestic market as there is an oversupply in the petrochemical especially for PET and there is often no tension in the market.”

According to Rabiei, tapping local potentialities is another concern in PGPIC. “We must believe in the use of Iranian goods. When the goods are manufactured domestically, it makes no sense to import them from abroad.”

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