Managing-Director of share issues at National Petrochemical Company (NPC) said, "Up to now, 108 trillion rials of petrochemical companies' shares have been handed over to private sector and the company is in close cooperation with Privatization Organization for transferring the share of its companies subjecting Article 44 of the constitution."
Morteza Rahimian said that petrochemical companies made up more than 50 percent of transfers in oil industry and 18.6 percent of total privatization in the country which will rise more after ceding Persian Gulf Holding, comprising 15 petrochemical companies, as well as Bakhtar petrochemical plant's handing over.
NPC will offer the shares of those petrochemical plants that are subject to handing over to private sector in near future even though NPC will keep its supportive and administrative role, Rahimian said.
"Transferring Persian Gulf Holding as the largest privatization move in petrochemical sector under the rules of Article 44 of the constitution had a great impact not only on petrochemical industry but on capital market," he noted.
"Like Persian Gulf Holding, Bakhtar petrochemical plant's shares, as one of the large holdings in petrochemical industry, will be transferred to private sector in near future," the NPC official concluded.
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The Petrochemical sector has been the most successful sector in the oil industry in view of privatization under Article 44 of the constitution, officials said.
News ID 184161
