10 May 2022 - 15:20
  • News Code: 456593
Fund to be created to Finance Petchem Projects

TEHRAN (Shana) -- The investment director of the National Petrochemical Company said a project fund will be created to support petrochemical holdings or projects that need investment.

Reza Nekouei said on Tuesday at the first meeting of the CEOs of the country's petrochemical holdings with senior executives of the oil industry, that there are plans regarding super holdings or projects that have been suspended due to lack of capital. “In this regard, we intend to establish a parent project fund to support these projects and holdings.”

He added: "This project is being pursued by the National Petrochemical Company so that we can form the fund and bring a percentage of the sales of the complexes into the fund through the stock exchange and the existing legal instruments."

The investment director of the National Petrochemical Company stated: "In this fund, projects that have a value chain are included so that we can put these projects into operation through the resources provided through the stock exchange."

News Code 456593

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