The Persian Gulf Petrochemical Industries Company was ranked second in terms of capital spending on the list of major chemical companies in 2018 issued by the Independent Chemical Information Service.
In ninth place in 2017, PGPIC moved up seven places to be second, with over $3 billion of capital spending, the Oil Ministry news agency Shana reported.
The top of the list belongs to German chemical company BASF, the largest chemical producer in the world, with $4 billion spending.
Capital spending (also known as capital expenditure, capital expense or capex) is the use of funds by a company to acquire physical assets to improve its value or increase long-term productivity.
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October 23, 2019 18:44
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