The event, organized by Bank Tejarat and hosted by NPC, emphasized the
role of financial facilitation in strengthening Iran's petrochemical sector, a
critical component of the nation's oil and gas industry.
“The petrochemical industry thrives when its final products serve
domestic needs,” Abbaszadeh stated, noting the historical focus on exporting
key materials like polyethylene, polystyrene, methanol, and urea. "Seventy
percent of these outputs are currently exported, leaving local downstream
industries underutilized. Expanding these industries is essential to complete
the value chain."
Abbaszadeh estimated that downstream industries could support
approximately one million jobs, yet production units often operate at just
50-60% capacity due to financial constraints. He attributed this
underperformance to liquidity challenges that hinder companies from purchasing
sufficient raw materials.
To address these issues, NPC partnered with Bank Tejarat, leveraging
credit-based product offerings to stimulate activity in downstream operations.
“Last year, 780 trillion rials ($18 billion) in credit-based supplies were
facilitated, benefiting the entire petrochemical ecosystem. A vibrant
downstream sector ensures a dynamic, stable market,” he said.
From the start of the year to late October, credit-based offerings
have reached 720 trillion rials ($16.5 billion), reflecting a 76% year-on-year
growth. Abbaszadeh projected the total would exceed 900 trillion rials ($20.7
billion) by year-end.
The supply of petrochemical products to domestic producers not only
stabilizes the industry but also creates a robust local market while ensuring
surplus production can be exported. Abbaszadeh praised Bank Tejarat’s SCF model
and advocated for its broader application across other industries, expressing
optimism for its role in securing a sustainable future for Iran’s petrochemical
sector.