According to PGPIC CEO Jafar
Rabiei at the holding’s extraordinary assembly on Wednesday, the company
expected to yield 103% output in the current calendar year to March 20 despite
the US sanctions on Iran.
“I cannot speak of the methods our
company has adopted to circumvent the sanction but our acceptable performance proves
our success,” he said.
Rabiei said PGPIC would launch
Bidboland Persian Gulf Gas Refinery,
Ilam Olefin and Lordegan Petrochemical projects by the end of the current
calendar year which would add 6 million tons to the company’s annual output
with €3.8b and Rls. 55,000b of investment.
He said that the profitability of
the company had reached 128% by capital enhancement last year, adding this
year's capital increase, in addition to completing projects and converting
capital into assets, would be partly used to settle debts to the National
Petrochemical Company (NPC).