Iran’s Petrochemical Giant Seeks Billions of USD Investment
Iran’s Persian Gulf Holding Company (PGHC) is seeking financial contributions to its petrochemical projects in the current Iranian calendar year which began on 20 March Iran’s Petro Energy Information Network (SHANA) reported Tuesday.
PGHC, Iran’s major petrochemical firm, has devised a 5-year master plan based on which it seeks a certain goal every year, its CEO Adel Salimnejad told SHANA.
“For this year, we are planning to carry out a number of multi-billion USD projects across Iran and we need contributions to financing the projects,” Mr. Salimnejad was quoted as saying.
“In the 1st step, we will renovate the holding’s plants as much as possible and then will move on to carry out new projects to supply the domestic and international markets,” he said.
Also, now freed from western sanctions PGHC plans to buy stock in lucrative petrochemical firms, he added.
PGHC is in business talks with 15 major foreign companies in a bid to finance it projects, he said.
Persian Gulf Holding administers 60 petrochemical companies exporting up to US$9-B a year.
According to the new data by the Independent Chemical Information Services (ICIS), the PGHC has the world’s number 44 position and is 2nd in the Middle East.