NPC to Host 2nd Petchem Financing Conference in November

NPC to Host 2nd Petchem Financing Conference in November
(Wednesday, September 11, 2024) 16:09

TEHRAN (NIPNA) - Reza Nekouei, a member of the board and investment manager at the National Petrochemical Company (NPC), announced the second specialized conference on financing the petrochemical industry to be held in November this year.

During the 18th Iranplast International Exhibition, Nekouei highlighted NPC's new initiatives in investment management, starting last year. He noted the launch of the G4B platform, aimed at simplifying the investment process for petrochemical investors by offering registration and cost-saving features. Additionally, a renewal system has been prioritized this year, allowing investors to more easily renew their permits.

Nekouei emphasized the success of the first financing conference held last year, which led to fruitful discussions with financial experts, banks, and the Central Bank of Iran (CBI). Following these discussions, a financial clinic was established to address industry challenges and provide tailored financing solutions.

For this year’s conference, scheduled for November, NPC aims to build on the previous year's experience while incorporating feedback from industry experts. Nekouei also announced that the CBI has agreed to allocate $2 billion in Islamic financial bonds (Murabaha bonds) to the petrochemical sector, alongside $100 million in loans for projects nearing completion this year and next.

Furthermore, the National Development Fund of Iran (NDFI) committed to providing €5 billion for well-performing projects. NPC also received positive feedback from Russian and Saudi investors after translating investment brochures into multiple languages, signaling strong foreign interest in Iran’s petrochemical sector.

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