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CBI allocates more subsidized forex for petchem development
Fariborz Karimaei also said considering the importance of the petrochemical industry and the need to fulfill the Seventh Development Plan, we need support and financing, and in this regard, negotiations have been held with the CBI to finance the projects in forex and rials, ISNA reported.
During the six months to September 21, the CBI paid 14% more subsidized forex to the petrochemical industry to fulfill a production leap on the way to hit the targeted 132 million tons.
“In the rial and foreign currency financing sector, we have coordinated measures with the CBI so that we can push the projects of the industry,” he stated
Karimaei went on to say that there are methods that we are studying to find new ways for financing major projects of petchem industry.
According to the Seventh Development Plan, a total of $25 billion to $30 billion of investment has been allocated to petchem industry development, of which 30 to 40 percent has been financed so far, and the rest must be financed through domestic and foreign suppliers, he stated.