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NPC, Bank Tejarat Discuss Strategies for Collaboration

NPC, Bank Tejarat Discuss Strategies for Collaboration
(Wednesday, November 20, 2024) 16:23

TEHRAN (NIPNA) – Senior officials from Iran’s National Petrochemical Company (NPC) and Bank Tejarat convened to explore avenues for enhanced collaboration in financing and advancing the petrochemical sector.

Hassan Abbaszadeh, NPC’s managing director, underscored the importance of mutual engagement and synergy between the two organizations to facilitate the growth of this critical industry.

He highlighted the untapped potential within the banking sector, particularly Bank Tejarat, as a longstanding financial partner in petrochemical development.

During the meeting, NPC’s financial director, Mashayekhi, acknowledged Bank Tejarat’s support in financing the Islamabad West project.

He proposed joint efforts in technical and research initiatives to produce comprehensive financial analyses for the petrochemical industry.

Hadi Akhlaghi, CEO of Bank Tejarat, reaffirmed the bank's commitment to supporting the sector, which he described as a driving force of Iran’s economy.

Akhlaghi noted that 20% of the country’s international banking operations are handled by Bank Tejarat and proposed greater participation of oil, gas, and petrochemical-affiliated banks in exhibitions such as Iran Plast and Oil & Gas.

Akhlaghi emphasized prioritizing resource allocation to prevent project delays and expressed the need to address challenges in collaborating with semi-private entities, often referred to as “quasi-private” companies.

The meeting concluded with an agreement to establish specialized and managerial sessions to advance the outlined objectives and strengthen the partnership between NPC and Bank Tejarat.

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