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Credit Sales of Petchem Products Reach 104 Trillion IRR

Credit Sales of Petchem Products Reach 104 Trillion IRR
(Wednesday, July 10, 2024) 16:04

TEHRAN (NIPNA) -- The total credit sales of petrochemical products in commodity exchanges surpassed 104 trillion IRR (10.4 hemats) in June this year, reflecting significant growth compared to the same period last year.

The Downstream Petrochemical Industries Development Management reported that the total value of credit sales in commodity exchanges increased by 40 percent, reaching nearly 104 trillion IRR in June 2024. This figure represents a notable rise from the 58 trillion IRR (5.8 hemats) recorded in June of the previous year.

The CEO of the National Petrochemical Company expressed gratitude to all industry workers for their efforts in advancing the credit sales of petrochemical products. He noted that in the first two months of this year, 140 trillion IRR worth of petrochemical products were offered in the capital market.

Shahmirzaei described the credit sales of petrochemical products as an economic jihad, emphasizing that the sustainable supply of raw materials needed by downstream units is crucial for realizing a significant production leap in the country. He asserted that credit sales of products are the most effective way to achieve this production boost.

He further stated that investments in the country's petrochemical industry must be completed and become productive. To this end, the National Petrochemical Company is actively and diligently working towards the completion of petrochemical projects.

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