BAKU, Azerbaijan, September 16. Iran’s Persian Gulf Petrochemical Industries Corporation (PGPIC) aims to generate 5.09 quadrillion rials (approximately $11.8 billion) in sales in the current Iranian year (from March 20, 2024 through March 20, 2025), current CEO of the corporation Abdulali Ali Asgari announced the target during a recent management meeting, Trend reports.
He revealed that in the preceding fiscal year (from March 21, 2023 through March 19, 2024), PGPIC achieved sales amounting to about 5.17 quadrillion rials (approximately $11.9 billion). This represents a remarkable 232 percent increase compared to the figures from the previous fiscal year.
Ali Asgari also reported that PGPIC's revenue for the last fiscal year was approximately 1.01 quadrillion rials (approximately $2.34 billion). For the current fiscal year, the holding projects revenue of around 1.15 quadrillion rials (approximately $2.66 billion).
PGPIC is one of Iran’s leading petrochemical companies, with an annual production capacity exceeding 20 million tons. The holding has plans to significantly increase its production capacity to 46 million tons annually by 2026.