TEHRAN – Iran’s Persian Gulf Petrochemical Industries Company (PGPIC) has been ranked 40th among the world’s top 100 petrochemical companies based on Independent Commodity Intelligence Services (ICIS) 2020 ranking.

The giant holding has been ranked second in the region despite the maximum U.S. pressure to restrict the activity of the petrochemical industry in Iran, and without access to international funding or investment, Shana reported.

According to a report published by ICIS, which has reviewed the world’s top petrochemical companies, PGPIC is also ranked second based on the Index of Investment Costs following BASF, which indicates the company’s continuous investment for maintaining and developing its competitive advantages in the global markets.

Also in terms of growth in research and development costs and the rise in asset growth, the company is among the top 15 companies in the list in 2019, which indicates increased production and sales in the coming years.

The ranking of PGPIC in the ICIS list for 2015, 2016, 2017 and 2018, was 34, 44, 38, and 35, respectively.

PGPIC is the largest company listed in Tehran Stock Exchange and is the second-largest petrochemical company in West Asia.

EF/MA