TEHRAN April 18(Shana)--Persian Gulf Holding Company is forecasted to produce more than 20 million tons of petrochemicals in the current calendar year.

Production from companies run under Persian Gulf Holding reached 18.5 million tons in the last calendar year which ended on March 20, the Holding’s manager said.

Adel Salim-Nejad said the output was up 6 percent from a year before, adding that the production is planned to increase in the current calendar year.

He said a five-year plan is being formulated to bring the nominal capacity of Persian Gulf Holding’s subsidiaries to 22 million tons a year.
Salim-Nejad said the company produced at 68% of its capacity in the last calendar year. He said it sold 15.5 million tons to domestic and foreign markets.

Persian Gulf Holding administers 60 petrochemical companies exporting up to $9 billion a year of petrochemicals.

By SHANA