In a strategic move to accelerate project development and value chain integration, Persian Gulf Petrochemical Industries Company (PGPIC) has finalized the sale of its subsidiary, Arzesh Mandegar Khalij-e-Fars, to Astan Quds Razavi for 24.66 trillion IRR through a public tender process.
According to PGPIC’s Public Relations Office, proceeds from the transaction will be directed toward advanced-stage strategic projects, particularly those critical to feedstock supply and downstream value creation.
Arzesh Mandegar was originally formed to consolidate PGPIC’s minority stakes in five petrochemical firms—Pars, Nouri, Shiraz, Bou Ali Sina, and Kermanshah—and facilitate their joint sale through a single vehicle. The deal’s structure includes a mix of cash and installment payments, as stipulated in the auction terms.
CEO Mohammad Shariatmadari previously emphasized that the sale is only justified if reinvested in projects that generate greater value than the divested assets. With nearly $10 billion worth of ongoing projects, he stressed that timely capital injection is vital. “Every day of delay results in hidden losses and lost opportunities for shareholders,” he noted.
The transaction marks a pivotal moment for Gulf Holding’s broader strategy—using asset optimization as a catalyst for long-term growth, efficient project delivery, and deeper integration across Iran’s petrochemical value chain.