Iran oil Ministry to establish petrochemical investment funds

Oil&Gas Materials 23 July 2020 16:25 (UTC +04:00)
Iran oil Ministry to establish petrochemical investment funds

TEHRAN, Iran, July 23


Director of the Investment Department at National Iranian Petrochemical Company (NPC) Hossein Alimorad announced the formation of funds for the petrochemical industry to finance the petrochemical industry projects in Iran, Trend reports via Mehr News Agency.

“The establishment of petrochemical investment funds to finance petrochemical industry projects is being finalized,” Alimorad said.

Emphasizing the use of new methods of financing the petrochemical industry, he said that the capacities of banking system and the capital market should be used in the best way possible.

"It is necessary to pave the way for the development of the petrochemical industry with a national perspective,” he said.

Referring to offering the petrochemical companies` shares via stock exchange, he said the banking system along with the stock market can play a significant role to finance the petrochemical projects in Iran.