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NPC Reports 4.5 Trillion Toman Credit Sale of Products in March 2023

NPC Reports 4.5 Trillion Toman Credit Sale of Products in March 2023
(Wednesday, May 3, 2023) 11:28

TEHRAN (NIPNA) -- The National Petrochemical Company's director of development for downstream industries, Abbas Gholami, announced on Tuesday that 4,500 billion tomans worth of petrochemical products were sold on credit in the stock market last year.

The credit sales were initiated with the aim of supporting complementary industries, which the Supreme Leader and other officials have focused on developing for several decades to prevent the sale of raw materials.

During the panel on marketing and applications of downstream petrochemical industries at the IPF international conference, Gholami emphasized the importance of creating more diversity in the production of products, particularly in the complementary industries sector, to make the petrochemical industry more unsanctioned.

He suggested importing types of petrochemical products that are not produced in the country and finding investors for the surplus of petrochemical products to convert them into more valuable downstream products.

Gholami highlighted the provision of working capital as the most significant challenge facing the country's petrochemical complementary industries.

He added that the credit sales of petrochemical complexes began last year, enabling the industry to support complementary industries.

He noted that the credit sale of 4,500 billion tomans worth of products in March marked a significant milestone in the initiative.

Despite severe sanctions, the petrochemical industry has been the most valuable industry in the country. To develop the value chain in the industry, Gholami suggested using advanced technologies and processes to convert surplus petrochemical products into more valuable downstream products.

The director's comments suggest that the industry is looking to diversify and expand its market through complementary industries and advanced technologies, indicating a positive outlook for the petrochemical industry's future in Iran.

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