Addressing the attendees, Askari highlighted the establishment of
downstream parks as a pivotal strategy of the company, inviting interested
investors to participate in these initiatives by utilizing the Project Fund to
"The investment in the petrochemical industry is revolutionary,
shaping the future. Hence, our nation's petrochemical industry seriously
prioritizes attracting investments and financial sourcing," asserted
Askari, emphasizing the industry's crucial role in national development.
Regarding capital sourcing strategies, Askari outlined three
fundamental principles: capital acquisition is derived directly from the
holding's domestic resources and indirectly from monetary, financial markets,
and capital markets. Furthermore, the holding maximizes the utilization of
internal capacities to secure financial backing.
Askari also highlighted recent financial innovations, citing the
issuance of $200 million in foreign exchange Murabaha bonds through Bank
Mellat—a groundbreaking move in Iran's history. These funds will be allocated
to extinguish flaring gases at PGPIC’s Bidboland Gas Refinery.
Speaking further on ongoing projects, Askari reiterated the 30
initiatives with a $20 billion investment, emphasizing the downstream park
creation strategy. He specifically mentioned plans for a Methanol Park to
utilize 2 million tons of domestically produced methanol with high efficiency,
while hinting at additional strategies to enhance methanol's profitability
within the company's agenda.
Wrapping up the conference, the CEO hinted at the near-future debut of
the Arvand and Bandar Imam Petrochemical companies' stock offerings in the
capital market, signaling further expansion and potential investment
opportunities in the sector.