Financial challenges resolved for incomplete petrochemical projects

SHANA (Tehran) – The CEO of Shastan Commercial Investment Company announced that the financial challenges for the second phase of incomplete petrochemical projects, including Bushehr Petrochemical, Negin Makran Petrochemical Development Company, Badr Shargh Petrochemical Complex, and Negin Bandar Abbas Petro Refinery, have been addressed.

Afshar Bazyar emphasized that the primary challenges for these projects were contractual issues and securing financial resources. These key challenges have largely been resolved through various methods, including obtaining bank loans, pre-selling products, and partnering with other investors.

He expressed hope that the Makran Power Plant will be operational by the end of this year, and the first section of the second phase of Bushehr Petrochemical, including olefin, MEG, and utility units, will be operational by mid-2025. In this regard, key project equipment, such as the extruder for the HD Unit, has been finalized and ordered.

The CEO of Shastan Commercial Investment Company added that intensive negotiations have been held with the National Development Fund to secure financing for the Badr Shargh and Bandar Abbas Petro Refinery projects. If possible, resources from the National Development Fund will be utilized for these projects.

News ID 653995

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