Abbas Sheri Moqaddam

NPC eyeing banking system cooperation

TEHRAN (FNA)- Deputy Oil Minister for Petrochemical Affairs Abbas Sheri Moqaddam asked the country’s Money and Credit Council to assign a special bank for financing petrochemical projects.

In statements to Shana, Sheri Moqqadam said “if a certain bank to undertake the responsibility of financing petrochemical projects it will certainly facilitate interaction and will speed up cooperation in financial issues.”

Several petrochemical projects are underway across the country but unfortunately some banks are not committed to their obligations on investment in the projects, Sheri Moqqadam told Shana.

He said that playing a more active role by banking system will help petrochemical sector to solve its financial problems.

According to him, investment in petrochemical projects not only is profitable but paves the way for development of the country in general.

“As a generating value added and growing industry, petrochemical sector could lay the ground for realization of Economic Epic,” Sheri Moqqadam who is also head of National Petrochemical Company (NPC) said.

He noted that the banks are expected to keep their promises and make investment under their previous commitments.

“We invite all the domestic and foreign investors to take part in petrochemical industry projects and we are ready to support them,” NPC’s managing director said.

By Fars News Agency


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