TEHRAN - The head of Persian Gulf Petrochemical Industries Company (PGPIC) said his company had generated over four billion dollars of revenues in the first half of the current calendar year (March 21-September 22), Shana reported.

Addressing PGPIC’s annual assembly on Wednesday, Abdol-Ali Ali Askari called the holding a development-oriented company, and stated: “PGPIC is the only petrochemical company that is prominent in the world and ranks 23rd among the top 100 petrochemical companies.”

Referring to the petrochemical industry as one of the major driving forces of the country’s economy, he added: “This industry can provide a lot of value to the country by creating development in production and downstream industries despite the sanctions.”

Ali Askari stated that the company’s annual production of petrochemical products increased from 20.5 million tons in the fiscal year ending June 21, to 22.2 million tons with the same number of complexes.

Pointing out that the annual consolidated profit of PGPIC has grown by 41 percent from 674 trillion rials (about $2.37 billion) on June 21, 2021, to 948 trillion rials (about $3.29 billion) on June 21, 2022, the official continued: “The profit of the main company also increased from 387 trillion rials (about $1.34 billion) with a 44-percent growth to 558 trillion rials (about $1.93 billion).”

The export value of PGPIC’s petrochemical products also increased by 87 percent from $2.78 billion to $5.2 billion in the financial year ending on June 21.

He pointed to 28 ongoing projects worth $15 billion in PGPIC, and said: “These projects include 12 major projects, eight inter-complex projects, and eight projects in Petrol.”

The PGPIC head said the projects include the 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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