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Iran Petchem Sector Witnesses 63,000 bn+ Tomans in Credit Disbursement

Iran Petchem Sector Witnesses 63,000 bn+ Tomans in Credit Disbursement
(Monday, February 12, 2024) 14:40

TEHRAN (NIPNA) -- The Development Manager of Downstream Industries at the National Petrochemical Company announced that credit disbursements to downstream petrochemical industries exceeded 63,000 billion Tomans from March to December 2023.

Abbas Gholami stated, "The total credit disbursement on the commodity and energy exchange market accounted for 35 percent, with the value of credit disbursements on commodity exchanges in December reaching over 8.2 thousand billion Tomans."

Emphasizing the continuation of the revival of production units, the Development Manager of Downstream Industries at the National Petrochemical Company added, "The National Petrochemical Company encourages petrochemical companies to offer credit for their products."

According to reports, the performance chart for credit disbursement of petrochemical products in March was 3.2 units, 5.5 units in April, 5.8 units in May, 6 units in June, 7 units in July, around 6,200 units in August, 7.2 units in September, 7.1 units in October, 7.5 units in November, and 8.2 units in December.

Addressing the challenges faced by complementary industries in the country, including the procurement of raw materials, due to liquidity and circulating capital, the National Petrochemical Company has undertaken measures to overcome production barriers.

As a result of this strategy, credit disbursements to downstream petrochemical industries have exceeded 63,000 billion Tomans from March to December 2023.

Credit sales, in addition to reviving industrial units, have accelerated the development of final products, created maximum value-added, and increased employment opportunities in the country.

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