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Parsian Bank CEO: Banking Financial Support Key to Balanced Growth in Petchem Sector

Parsian Bank CEO: Banking Financial Support Key to Balanced Growth in Petchem Sector
(Monday, February 3, 2025) 17:02

TEHRAN (NIPNA) – The banking sector plays a critical role in fostering balanced growth in Iran’s petrochemical industry, a strategic sector vital to economic resilience, job creation, and foreign currency generation, said Parsian Bank’s CEO, Javad Shokrkhah.

In an interview with the Iranian Petrochemical News Agency (NIPNA), Shokrkhah emphasized that Parsian Bank considers petrochemicals one of its top three priority industries for financial services, alongside oil and electricity. "With a diversified portfolio of credit facilities and financial solutions, we aim to enhance the sector’s capacity and address its challenges," he said.

Parsian Bank has provided significant financing for major petrochemical projects, leveraging its strong foreign exchange resources. "We have fully financed projects such as the downstream expansion of Parsian Sepehr Petrochemical in Asaluyeh and Mehr, with an investment exceeding $1 billion," Shokrkhah stated.

He also highlighted the bank’s role in funding a propane dehydrogenation (PDH) project in Asaluyeh and supporting the development of the Yaran oil field. "Additionally, we are among the five key financial partners backing the Azadegan oil field project," he added.

Beyond direct financing, Parsian Bank actively participates in capital markets to support various industrial ventures. "Our commitment to the petrochemical industry is not just a strategic business decision but also an essential contribution to Iran’s broader economic development," Shokrkhah said.

Iran’s petrochemical sector, a pillar of the country’s economic diversification strategy, plays a crucial role in reducing reliance on crude oil revenues. Banking sector support, particularly in financing large-scale projects and ensuring stable investment flows, is seen as key to sustaining growth and expanding export capacity.

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