BAKU, Azerbaijan, March 14
Trend:
The capital of Iran's Persian Gulf Petrochemical Industries Company (PGPIC) has been increased to about 490 trillion rials (about $11.6 billion), Trend reports citing the company’s official website.
The decision to increase the capital was made at a meeting of the presidium of the Persian Gulf Petrochemical Industries Company.
Previously, the company's capital stood at 287 trillion rials (about $6.83 billion), the report said.
Speaking at a meeting of the company's presidium, deputy director for financial issues of the PGPIC, Saeed Mohebbifard said that the company's financial portfolio increased by 27 trillion rials (about $643 million) over the last Iranian year (March 20, 2020 through March 20, 2021).
The deputy director also pointed out that in connection with debts, the PGPIC has paid over $1 billion to the National Iranian Oil Company (NIOC) and the Iran’s National Petrochemical Company (NPC).
“If these funds had not been repaid, the company's current debt would be more than $4 billion,” Mohebbifard noted.
Iran's Persian Gulf Petrochemical Industry Company is considered one of the main petrochemical companies in the country.
So, many companies, including, Jam Petrochemical Company, Kermanshah Petrochemical Company, Shiraz Petrochemical Company, Zagros Petrochemical Company, Persian Gulf Sadaf Petrochemical Company, Ilam Petrochemical Company, Urmia Petrochemical Company and others are operating under this company.
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