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Petchem Products Credit Allocation Exceeds Rls. 710 Trillion by Feb. 23

Petchem Products Credit Allocation Exceeds Rls. 710 Trillion by Feb. 23
(Tuesday, March 12, 2024) 14:35

Bandar Mahshahr, Iran (Reuters) - Abbas Gholami, Director of Downstream Industries Development at the National Petrochemical Company, announced that over 71 trillion tomans in credit had been allocated to downstream petrochemical industries from March 21, 2023 to February 23, 2024.

Gholami emphasized the importance of revitalizing production units, stating, "The National Petrochemical Company encourages petrochemical companies to allocate credit for their products."

He added that 52% of these allocations were made on the Iran Commodity Exchange, with 30% on the Energy Exchange.

Identifying obstacles to the production of complementary industries by the National Petrochemical Company, securing liquidity and capital circulation is one of the most important challenges for stakeholders in the country's downstream petrochemical industries when purchasing raw materials.

The sale of credit, in addition to revitalizing industrial units, has accelerated the development of final products, created maximum value-added, and increased employment in the country.

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