Four of Iran's petrochemical companies bounce back from losses
Baku, Azerbaijan, Nov.5
By Fatih Karimov - Trend:
Four subsidiaries of Iran's Persian Gulf Petrochemical Holding, which were previously yielding losses, are now profitable.
Adel Nejad Salim, Managing Director of Persian Gulf Petrochemical Holding, said Arvand, Tondgooyan, Pasargad, and Rahavaran Fonoon petrochemical companies, are currently in the black, Iran's Shana news agency reported on November 5.
Unfortunately, two more subsidiaries are still in the red, he added.
Persian Gulf Petrochemical Holding is the biggest company operating in Iran's capital market, with holding over 11 percent of the total shares of the stock market.
The Holding's annual sale amounts to $12 billion.
Iran exported 9.693 million metric tons of petrochemical products, worth $7.6 billion, in the first seven months of the current year, which began on March 21.
The petrochemical exports showed 8.4 percent rise in weight and 17.81 percent rise in value compared to the year before.
Based on the Iran Customs Administration report, Iran exported 8.553 million metric tons of petrochemicals, worth $6.721 billion, 1.052 million metric tons of propane, worth $1.008 billion, and 764,000 metric tons of butane, worth $730 million, in the first six months of the year.