Iran, Japan sign new petchem financing deal

TEHRAN, Sep. 25 (MNA) – The first financing agreement of Iran’s petrochemical industry in the post-JCPOA era was inked with a Japanese company.

Iran’s first contract for receiving finance from international markets was signed in the country’s largest petrochemical holding.

Accordingly, introduction of investment opportunities offered by Iran’s petchem industry in various international conferences like Geneva, Vienna, Berlin and Frankfurt could build trust in and attract export insurance agencies as well as international creditors and banks.

Eventually, the first contract for covering financial resources worth 320 million euros was sealed with Marubeni of Japan on September 01 in Tokyo.

In view of preliminary negotiations and agreements, the value of the deal is expected to increase twofold reaching a total of 640 million euros.

Meanwhile, officials at Khalije Fars Petrochemical Holding have announced that “usance financing to a maximum amount of one billion euros as well as medium-term provision of about 500 million euros will be achieved in the current Iranian calendar year (began March 20).”

HA/3778389

News Code 119999

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