Dec 18 2010 |
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Domestic banks to fund $23.5b petchem projects
TEHRAN - National Petrochemical Company (NPC) has reached agreement with five domestic banks for receiving $23.5 billion worth of bank facilities, an official with the company said here on Monday.
"An agreement worth $6 billion for financing 21 projects is being finalized with Bank Melli Iran, while Bank Mellat will allocate $4 billion for construction plan of Damavand Petrochemical Complex," Ramezani explained.
"Bank Pasargad will also allot $2 billion to four projects and Bank Saderat of Iran will allocate $3.5 billion for another four projects," he added.
According to the official, Bank Sepah will finance two petrochemical projects worth $2 billion, while Sepehr Energy Corporation, an affiliated company of Bank Saderat of Iran, will allocate $7 billion to three other projects.
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