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PGPIC Signs 5 Financing MOU

PGPIC Signs 5 Financing MOU
(Monday, December 6, 2021) 17:00

TEHRAN (NIPNA) – The Persian Gulf Petrochemical Industries Company (PGPIC) has signed five memoranda of understanding worth Rls. 1,050,000 billion with the aim of financial injection and accelerating implementation of projects.

According to PGPIC, on the second day of the 13th International Exhibition of Stock Exchange, Banking, Insurance and Privatization, the group signed five memorandums of cooperation worth 105,000 billion tomans with Tejarat, Mellat and Saderat banks as well as Kardan and Mellat investment banks to finance petrochemical projects.

PGPIC, as in previous years, with the approach of benefiting from maximum opportunities and the ability to finance new financial models from the money and capital market to advance its ongoing petrochemical projects, displayed a dazzling activity in the exhibition and during negotiations and exchanges with existing banks, it succeeded in signing cooperation agreements for 2 years worth 105,000 billion Tomans, including 85,000 billion Tomans for facilities, commitments and opening of Rial domestic letters of credit, 400 million dollars of foreign exchange facilities and issuance of 10,000 billion Tomans of power of attorney through the capital market.

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