...

Iran's Persian Gulf Fajr Energy Company boosts its revenues

Finance Materials 19 July 2020 10:23
Iran's Persian Gulf Fajr Energy Company boosts its revenues

BAKU, Azerbaijan, July 19

By Elnur Baghishov – Trend:

The revenues of the Iran’s Persian Gulf Fajr Energy Company increased by 80 percent in the last Iranian year (from March 21, 2019 to March 20, 2020) compared to the preceding Iranian year, Executive Director of Iran’s Persian Gulf Fajr Energy Company Gholamali Zalkhani said, Trend reports citing the company.

Zalkhani noted that the company's net revenues were 13.9 trillion rials (about $332 million) in the last Iranian year.

He added that one of the main problems of the company was foreign currency debts. The foreign currency debt has had a major impact on the company's profits and losses.

The director stressed that most of the company's debt was paid last Iranian year, and the rest in the current Iranian year (began March 20, 2020), and the company no longer has any debt.

"Persian Gulf Fajr Energy Company sells its products to 31 customer companies. Arvand Petrochemical Company (21 percent), Maroon Petrochemical Company (21 percent), Amir-Kabir Petrochemical Company (15 percent), Shahid Tondgooyan Petrochemical Company (11 percent) occupy main positions among these companies in terms of the purchase of products,” he said.

Zalkhani said that the Persian Gulf Fajr Energy Company is one of the leading utility and capital services companies in the Bandar Imam Petrochemical Special Economic Zone with an investment of about 2 billion euros since 2004.

Iran's Persian Gulf Fajr Energy Company was established in 1997 to provide services to companies in Iran's Bandar Imam Petrochemical Special Economic Zone. In 2009, the property of this company was transferred to the Persian Gulf Petrochemical Industry Company. Later, in 2015, part of the company's shares was sold on the stock market.

Tags:
Latest

Latest