‘Bright future for Petrochem industry’

Home »  News »  ‘Bright future for Petrochem industry’

On December 21, 2015, Posted by , In News, With No Comments

A senior Iranian petrochemical industrialist says investment in Iran’s petrochemical industry has a return of over 25 percent, a promising outlook for potential investors.

Managing Director of Iran International Petrochemical Company Isa Mashayekhi, addressing a specialized panel meeting at the 12th Iran Petrochemical Forum (IPF2015) in Tehran on Monday, said the rate of return on investment (ROI) in Iran’s petrochemical projects makes the country more luring for potential investors, Shana reported.

He said the post-sanctions Iran enjoys massive investment potential.

Mashayekhi who was also representing the Persian Gulf Holding Company (PGHC) at IPF said the company holds some $16.2 billion worth of assets and is one of Iran’s leading private companies which is operating various major petrochemical projects.

PGHC also owns 10 percent of shares in Iran’s stock exchange making it one of the most influential companies in the market.

The company’s output accounts for 45 percent of Iran’s annual petrochemical production, he added, saying that PGHC’s subsidiaries supply 24.6 million metric tons/y of petrochemical items which are sold in domestic and foreign markets.

Furthermore, he added, PGHC needs $15 billion investment in its projects to materialize its plans and is seeking out potential investors.

Iran has 67 half-finished petrochemical projects up for grabs with 20-90 percent physical progress to come on-stream in the near future, he added.

Some 97 foreign companies from 25 countries have participated in IPF 2015 which shows an increase of 120 percent compared to IPF 2014.

More than 1500 representatives from domestic and foreign firms including Australia, Azerbaijan, Canada, Denmark, France, Germany, Japan, the Netherland, Russia, and US are taking part in the event.

Participants in the IPF2015, one of the world’s most prestigious events representing the petrochemical industry, are discussing the core issues that the industry is facing with the emphasis given to Iran.

Comments are closed.