PGPIC boosts forex revenue by 19%: CEO
The CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) said that the firm generated $6.2 billion in foreign currency revenues in the year to June 21, 2023, registering a 19 percent growth.
Abdolali Ali-Askari also noted Sunday that during the period, the PGPIC’s consolidated retained earnings rose by 64%, while its production volume grew by 5%, according to SHANA.
Looking back at the company’s performance in the months that have passed since the beginning of the current Iranian calendar year (starting March 21), he highlighted the role that the PGPIC plays in Iran’s economy and expressed hope for a booming future.
“Since March 21, we boosted our production by nearly 1.2 million tons compared to the same period last year, showing a 9.5 percent growth,” he added.
Ali-Askari pointed out that 29 developmental projects worth $12.6 billion are being implemented by the company, adding that these projects are capable of producing 21 million tons of products.
The Persian Gulf Petrochemical Industries Company was ranked the top company in the previous Iranian year in terms of sales, export revenues, and market value, and ranked second in terms of added value and profitability, he said.
Ali Askari also pointed out that in the ranking of the top 100 chemical distributors issued by the Independent Commodity Intelligence Services (ICIS) international research institute, the PGPIC jumped to 27th place.