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Bank Inks IRR75k Billion Deal with Petchem Holdings

Bank Inks IRR75k Billion Deal with Petchem Holdings
(Monday, August 24, 2020) 12:03

TEHRAN (NIPNA) -- The Vice Chairman of the Board of Directors of Bank Saderat Iran said: “The conclusion of a memorandum of understanding for investment of IRR 75,000 billion with petrochemical holdings is promising for the support of the bank for implementation of major petrochemical projects.”

According to the public relations of Bank Saderat Iran, Amir Yousefian, in explaining the process of the bank's support for large and influential industries, especially petrochemical companies, refineries and oil and gas industry equipment manufacturers, said: “Due to limited resources of the banking system, granting facilities and commitments to these industries have a special priority in Bank Saderat Iran, as granting facilities to these units, like a positive domino, causes dynamism and boom in other economic complexes.”

Likewise, since last year, the bank has seriously entered into cooperation with petrochemical industries which led to concluding an IRR 75,000 billion deal with several petrochemical holding companies along with a memorandum of understanding (MoU) for IRR25,000 billion investment with the Association of Oil Industry Equipment Manufacturers.

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