CEO: PGPIC Building $8.5b Petchem Projects

The CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) said the holding was building petrochemical projects totally valued at $8.5 billion dollars.

Addressing a ceremony to break the grounds for construction of a petrochemical project in the southwestern city of Andimeshk on Thursday, Jafar Rabiei said PGPIC had finalized a deal with the National Iranian South Oil Company (NISOC) for gathering associated gases in oil-rich regions.

“Today, the petrochemical industry has joined the National Iranian Oil Company (NIOC) for gathering flare gases which are of high value,” he said.

The official said Bidboland II Gas Refinery, Lordegan Urea and Ammonia Project and Ilam’s Olefin Plant, totally valued at more than $4 billion, were to be launched next calendar year.

source: FARS NEWS AGENCY