PGPIC Generates $4bn in H1

PGPIC Generates $4bn in H1
(Tuesday, October 25, 2022) 17:01

TEHRAN (NIPNA) – The CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) said his company had generated over 4 billion dollars in the first half of the current calendar year, which began on March 21.

Addressing PGPIC annual assembly on Wednesday, Abdul-Ali Ali Askari called the holding a development-oriented company, and stated: “PGPIC is the only company in the field of petrochemicals that is prominent in the world and ranks 23rd among the top 100 chemical companies in the world from 37th ranking in the past.”

Referring to the importance of the petrochemical industry as one of the national advantages, he added: “This industry can provide a lot of value to the country by creating development in production and downstream industries despite the sanctions.”

The PGPIC CEO further said that the country’s petrochemical industry has generated nearly $10 billion in the first half of the year of which $4 billion was generated by PGPIC.

Over 8% Growth in PGPIC Output

Ali Askari stated that the annual production of petrochemical products in PGPIC increased from 20.5 million tons in the fiscal year ending June 21, with an 8.2 percent growth to 22.2 million tons with the same number of complexes, and continued: “The total sales amount of this company also increased from 165,000 billion tomans with 86% growth to 307,000 billion tomans in the mentioned period.”

Pointing out that the annual consolidated profit of PGPIC has grown by 41% from 67.4 trillion tomans on June 21, 2021 to 94.8 trillion tomans on June 21, 2022, he continued: “The profit of the main company also increased from 38. 7 trillion tomans with a 44% growth to 55.8 trillion tomans.”

The CEO of Persian Gulf Petrochemical Industries Company stated: The export value of petrochemical products of this company has increased by 87% from 2.78 billion dollars to 5.2 billion dollars in the financial year ending on June 31, 1401.

Implementation of 28 projects worth $15 bn

He pointed to 28 ongoing projects worth $15 billion in PGPIC, and added: “These projects include 12 huge and main projects, 8 inter-complex projects and 8 projects in Petrol.”

The PGPIC CEO said the projects include Persian Gulf Yadavaran Gas Refining Project, Hengam Petrochemical Project, Gachsaran Petrochemical Plant, Persian Gulf Apadana Petrochemical Plant, Dehdasht Petrochemical Industries, improvement and construction of flare gas collection facilities, Gachsaran Polymer Industries, Ibn Sina Andimshek Petrochemical Plant, PDH/PP Pars Petrochemical Plant, PDH/PP Persian Gulf Bedbland Gas Refining, Mahshahr Morvarid Petrochemical Plant and Persian Gulf Hormuz Petrochemical Plant.

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