Persian Gulf Petrochemical

Persian Gulf Petrochemical Industries Company (PGPIC) was established in January 2008 in line with the implementation of Article 44 of the Constitution on the basis of Authorization No. 161681 of transferring commission to transfer the shares of 18 petrochemical companies. Its formation sought to maintain the integrity of the Iranian petrochemical industry and obtaining the objectives of 2025 Iran vision plan.

The company was transferred to the private sector in 3 stages. 40% of its shares were allocated to provincial investment companies according to the cabinet authorization dated July 2009 for justice shares. In the first stage, 5% of shares were transferred to Tehran Stock Exchange in January 2013 for price discovery.

In the second stage, 17% of its shares were transferred by auction to National Iran Oil Company (NIOC) Pension, Saving & Welfare Fund in May 2013. Therefore, holding 62% shares of the private sector and non-governmental organizations, PGPIC was separated from governmental sector since May 2013 acting as the country’s largest petrochemical holding with more than 22 million tons output capacity of producing 40% of Iran’s petrochemicals encompassing over 350,000 billion IRR capital as the largest and most important member of the stock exchange entered the private sector possessing about 10 percent of the stock market.

In the third stage, a 17 percent block of the company’s shares was released in March 2014. The block was jointly purchased by Oil, Gas & Petrochemical Investment Supply (Tapico) and the NIOC’s pension fund in a 50-50 partnership.

Company Profile
CEO: Mr Adel Nezhad salim
Year of foundation: 2008
Number of employees: 16,335 (2016)
Market Capitalization: 289,950 billion IRR (January 2018)
Symbol at TSE: PKLJ
Floated shares: 4%
Total Revenue : 41,673,399 million IRR (2017)

1.14 billion USD1

Foreign sales: 150,820,667
Net Profit: 55,597,767

 

Main Shareholders2 Percentage
National Petrochemical Company 18.42%
NIOC Pension, Savings and Welfare Fund 16.99%
Tapico 6.05%
Taban 5.87%
Others 52.67%

 

Main Products
Aromatics
Feeds and Fuel
Basic Chemical materials
Polymers
Fertilizer and Related Products

 

Subsidiary companies: Ownership Percentage
Mobin Petrochemical 89.21%
Arvnd Petrochemical 80%
Nouri Petrochemical 76.55%
Tondgouyan Petrochemical 75%
Bandar-e Imam Petrochemical 70%
Bou Ali Petrochemical 70%
Khuzestan Petrochemical 70%
Fajr Petrochemical 70%
Pars Petrochemical 60%
Intertational NPC 100%
Rah Avaran Petrochemical 100%
PazargadPIDMCO 100%
non-industrial operations 100%
Petrochemical Industries Development Management 100%
Petrochemical Commercial Co. (PCC) 44.99%
Bid-boland Gas Refinery 80%
Hengam Petrochemical 97.43%
Hormoz Petrochemical 99%

 

1: Official exchange rate used on the date of publication; 1 USD equivalent to 36,670 IRR.

2: Only shareholders with more than 5% of shares are specifically named.