PGPIC Invests $6.2bn in Petchem Projects

The Persian Gulf Petrochemical Industries Company (PGPIC) has invested over 6.2 billion dollars in the development of petrochemical projects in Iran, the company’s CEO says.

Speaking to NIPNA, Adel Nejad Salim said his company is currently running 70 percent of Iran’s petrochemical development projects by investing the amount in them.

PGPIC is governing 80 petrochemical companies which have a lion’s share in the country’s total petrochemical output.

The company started off a master plan in 2013 and expects to see the result of its developments in 2018, said Nejad Salim.

The CEO further said that the company is planned to tap upstream projects in oil industry in the near future.

He also said that PGPIC eyes being ranked among ICIS’s top 10 major chemical and petrochemical companies in the world in the future.

(Source: Shana)

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