According to the Public Relations Office of PGPIC, following the completion of the public auction of Arzesh Mandegar Khalij-e-Fars Company and the confirmation of Astan Quds Razavi as the buyer, the proceeds from the sale will be allocated to high-priority projects with substantial progress. These projects are instrumental in completing both the feedstock supply and value creation chains.
Arzesh Mandegar was originally established for the purpose of consolidating PGPIC’s minority shareholdings in several petrochemical companies—including Pars, Nouri, Shiraz, Bou Ali Sina, and Kermanshah Petrochemical Industries—and selling them in a single transaction. The company was successfully sold to Astan Quds Razavi for 24.66 trillion IRR, under the terms and conditions outlined in the public tender, with payment structured as a mix of cash and installments.
Previously, Mohammad Shariatmadari, CEO of Persian Gulf Petrochemical Industries Company, emphasized that "every rial generated from the sale must be invested in projects with greater value than the divested shares." He underlined that such transactions are only justifiable when the return on investment from executing the projects exceeds the cost of selling the assets.
According to Shariatmadari, PGPIC is currently executing nearly $10 billion worth of projects, with progress ranging from 5% to 95%. He noted that “each day of delay in completing these projects results in hidden losses for shareholders, and securing the necessary capital is key to preventing further opportunity costs.”