Rashid Ghanei, CEO of the Persian Gulf Petrochemical Complementary Industries Investment and Development Group (Petrol), says six projects are now being completed. One of those projects, Urmia Petrochemical, is now ready and will be inaugurated in the near future. This project is a polyaluminum chloride (PAC) unit, which will convert liquid Hydrochloric acid (HCl) to polyaluminum chloride during the value chain. The product is used in the water and sewage industry.
Ghanei further added that the second project is of great importance and is the first polypropylene unit in the Persian Gulf Petrochemical Industries company (PGPIC) and Petrol Group. The first phase has already been operationalized, and the second phase will become operational by the end of this summer or the beginning of autumn. In relation to its feedstock, a contract has been signed with Gachsaran Petrochemical to get supplies of C3+ and increase propylene production.
According to Ghanei, another project is Sadaf Petrochemical, the most important equipment of which was Finishing. It is hoped that Sadaf Petrochemical will be launched in the fall. He also referred to the three projects of Songhor, Armand, and Petropark Pouya and said the first two projects have reached 70% progress, and it is hoped that through financing the projects will be completed.
Ghanei also referred to the delays in launching the projects and said one of the reasons is that last year the investment group financed various projects to an amount equivalent to 3.5 thousand billion tomans, which equaled all investments over the past 10 years. According to Ghanei, this year the investment group has received six financial approvals from one of the banks. But according to him, the financial conditions of the country and the conditions of the banks are not good due to the imposition of duties by the government on them, so they can hardly inject liquidity, but anyway we have received our approvals. Among the most important projects were Argavan Gostar Ilam petrochemical and Sadaf , which have been completed, and it is hoped to follow up on the rest with new financing methods.
Regarding his expectation from the oil minister of the new government, he said the most important issue is the coordination within the government itself. He said there must be good coordination between the Program and Budget Organization, the Tax Affairs Organization, the Ministry of Jihad Agriculture, and the Ministry of Petroleum. In this regard, he referred to the money that the company owes from the Ministry of Jihad. He urged the government officials to show more determination to resolve these problems.
Regarding the Lordegan’s gas cuts, Ghanei said such inconsistencies need to be resolved.
Regarding the measures taken in the direction of exporting technical , engineering equipment and services to knowledge-based companies and using the PGPIC brand alongside their own company, Ghanei said several companies have announced their readiness for this purpose, and the group is negotiating with them. He said it is hoped to reach a conclusion because Persian Gulf Holding is ranked 23rd in its global ranking. According to Ghanei, the ranking gives the companies a very good reputation. According to him, the main function of PGPIC is the export of petrochemical products in the form of acquiring equipment and technical services.
Source: Petrol Department of Public & International Affairs
