About Us
Persian Gulf Petrochemical Industries Company (PGPIC) was established in October 2008 in line with the implementation of Article 44 of the Constitution, on the basis of Authorization 161681 of transferring commission. It obliged the transfer of shares of 15 petrochemical companies consisting of Bandar Imam, Shahid Tondgoyan, Buali Sina, Nouri, Pars, Arvand, Khusitan, Fajr, Mobin, Rahavaran Fonoon, Mahshahr non industrial operations, Pazargad non industrial operations, Petrochemical Industrial Development Management (PIDMCO), NPC International, and Petrochemical Commercial Company (PCC). PGPIC formation sought to maintain the integrity of the Iranian petrochemical industry and obtaining the objectives
of 2025 Iran vision plan.
The company has been transferred to the private sector in three stages. 40% of its shares were allocated to provincial investment companies according to the cabinet authorization in July 2009 as Justice Shares. In the first stage, 5% of shares were transferred to Tehran Stock Exchange in April 2013 for price discovery. In the second stage 17% of its shares were transferred by auction to NIOC pension and saving fund in June 2013. Therefore 62% of shares are held by the private sector and non-governmental organizations. PGPIC has been separated from government sector since June 2013, acting as the country’s largest petrochemical holding with more than 22 million tons capacity which is 40% of Iran’s petrochemicals entire output and with 350,000 billion Rials capital, entered the private sector as the largest and the most important member of the stock exchange holding 11% of its shares. In the third stage, 17% of the company’s shares were offered in March 2014 which in 50% block purchased equally by Oil, Gas & Petrochemical Investment Supply (Tapico) and the NIOC Pension Fund
Some Cool Facts
Numbers Speak For Themselves
Quality Comes First! We Make Sure That Every Minute Detail Is Looked Into While Manufacturing Even The Smallest Product. Our Focus Is 100% On Client Needs And Satisfaction.
PGPIC Interaction Policy with the Subsidiaries:
The parent company should clarify its interaction and treatment policies towards the subsidiaries. In fact, interaction policy with the subsidiaries is vital after determining the overall direction of the company. The model is crucial to achieve good faith in performance of the subsidiaries in accordance with the PGPIC direction and objectives.
Holding companies consider three different models each with unique specifications to interact and manage the subsidiaries:
1- Strategic Planning
2- Financial Control
3- Strategic Control
The Strategic Control acts as a bridge and is placed between the other two. In this model, the headquarter determines the strategies and the role of the parent companies is minimized to defining the macro strategies particularly in resources allocation, procedures, mission statement and adjusted activities of companies, determining and monitoring company rules and policies, promoting innovation and learning organization, standardization and
performance assessment, and implementation of necessary changes to improve productivity. PGPIC follows the same model to interact with its subsidiaries.
What We Do:
Under registering of PGPICC which is responsible for trading the whole products of PGPIC’s subsidiaries. This amount values about $10.5 billion, annually. Normally 39% of production volumes are exported (7.2 MMT) that would cover 45% of our production value, indicating export of high-value products. Moreover, PGPIC is the sole producer of some specific products in Iran, making us the only source of PTA, PET-TG, PET-BG, TDI, MDI and E-PVC in Iran’s petrochemical industry. Our products are most likely to be marketed in North East and South East Asia, followed by Indian Subcontinent, Western Europe and Middle East, respectively.
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Mission & Vision
Mission
Trading oil, gas and petrochemical related products in domestic and global markets relying on:
– Modern information technologies
– Talented and Professional employees
– Providing preferable commercial and financial services
– Creating value and acquiring stable satisfaction of stakeholders
Vision
To becom a privileged organization with international credit by supplying 20 MMT of products.
Core value
– Meritocracy and preserving of human munificence and values
– Customer Orientation
– Honesty, transparency and confidentiality
– The rule of law and confidence restoration
– Responsibility and responsiveness
At present (20 Jan 2018), the latest shareholders are as follows:
40% Justice Shares
17 % N.I.O.C Pension Fund
19.96 % NPC
8.55 % Tamin Chemical & Petrochemical Industry Co. (Tapico)
8.61 % Taban Farda
5.88 % Other Shareholders
The Present Nominal Capacity of the PGPIC Production Complexes:
Direct production Companies (owning management shares) 21.4 Million Tons
Indirect Production companies (owning management shares) 2.8 Million Tons
Direct Projects (owning management shares) 9.68 Million Tons
Indirect Projects (owning management shares) 5 Million Tons