PGPIC Exports Reach $8b

PGPIC Exports Reach $8b
PGPIC Exports Reach $8b

Approximately eight to nine billion dollars worth of petrochemicals are exported annually by the Persian Gulf Petrochemical Industry Company (PGPIC) subsidiaries, the company CEO Adel Nejadsalim said Saturday.

 According to international data, PGPIC exported $8.2 billion worth of products last year. After Saudi Arabia's SABIC, PGPIC ranks the second largest petrochemical manufacturing company in the Middle East, Shana reported.

Last year PGPIC used only 68 percent of its production capacity. However, during the first eight months of the Iranian calendar year (started March 21, 2014) production capacity increased to almost 77 percent.

The Petrochemical Commercial Company (PCC) has repaid its debts to PGPIC, part of which was in cash and the rest in the form of Iranian Petrochemical Investment Group shares. As a result, subsidiaries of the PDPIC were able to expand considerably, the official said.

Currently Bandar Imam, Shahid Tondgooyan, Pars Mobin, Nouri (Borzouyeh), Fajr, Buali Sina, Arvand, Khuzestan, Rahavaran Fonoon, and National Petrochemical Companies, as well as PCC, Iranian Investment Petrochemical Group, Pasargad Non- Industrial Operation Services Company, the Petrochemical Industries Development Management Company, are among PGPIC affiliates .

The company is directly/indirectly involved in more than 80 petrochemical companies and its subsidiaries operate in a broad-range of related activities.