TEHRAN, April 19 (Shana) –-Persian Gulf Holding Company (PGHC) is seeking to enhance public contributions to petrochemical projects in the current Iranian calendar year which began on March 20, PGHC head said.

Speaking with Shana, Adel Nejad Salim said the holding has devised a 5-year master plan based on which it seeks a certain goal every year.

"For this year, we are planning to carry out several multi-billion dollar projects across Iran and would need public contributions for financing the projects," he said.

He said PGHC needs $7b for financing new projects and has managed to absorb most of the amount.

Nejad Salim said the company has set 70% of its strategies on enhancing its activities in the post-sanctions setting.

"In the first step, we will renovate the holding's plants as much as possible and will, then, move on to carrying out new projects to supply the domestic and international markets," he added.

In a final step, PGHC will seek to buy stocks of lucrative petrochemical firms, he added.

PGHC has initiated talks with 15 leading international petrochemical companies for completing its projects, Nejad Salim added.

The official added that Lordegan and Ilam plants will come on-stream in the next few years.

By SHANA