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NPC Revitalizes Supplementary Industries with Credit Offering

NPC Revitalizes Supplementary Industries with Credit Offering
(Wednesday, August 23, 2023) 23:37

TEHRAN (NIPNA) - Petrochemical companies have facilitated a credit offering of approximately 35 trillion Tomans from December of last year until the end of Tir (July), aimed at supporting supplementary industries.

The strategic implementation of credit offerings for petrochemical products has been initiated to infuse capital into the operational cycles of supplementary industries. The strategy also seeks to revive stagnant and underutilized production units due to liquidity shortages. Moreover, it aims to promote job creation, retain existing employment opportunities, and align with the policies of the National Petrochemical Company during the thirteenth administration.

The credit offering for petrochemical products commenced in December of the previous year and has experienced steady growth. By the end of the last fiscal year, more than 4 trillion Tomans of credit offerings had been executed on the stock exchange.

The figures for the months of Dey and Bahman in the year 1401 were 4 trillion Tomans and 5.7 trillion Tomans, respectively.

The upward trajectory of credit offerings for petrochemical products continues this year as well. In Farvardin (March), it reached 3.3 trillion Tomans, followed by 5.6 trillion Tomans in Ordibehesht (April), and 5.8 trillion Tomans in Khordad (May). Finally, in Tir (July), a new record was established with 6 trillion Tomans worth of credit offerings on the commodity exchanges.

According to the report, it is anticipated that the trend of credit offerings will further escalate in the coming months. All petrochemical companies are aligned with the value chain completion strategy and are striving to fulfill the needs of supplementary industries.

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