Senior executives from Iran’s Foreign Exchange
and Gold Exchange Center, Bank Tejarat, and PGPIC agreed that six major
petrochemical projects under the Persian Gulf Holding Group will be financed
through the issuance of foreign-currency Murabaha bonds.
Bandar Imam Petrochemical will take the lead
among the six projects, utilizing the new funding to advance its development
plans aimed at expanding production capacity and value creation.
The move comes amid what the government has
called the “Year of Investment in Production,” reflecting efforts to accelerate
industrial growth through innovative financial instruments.
According to the report, other projects to be
financed through the same mechanism include Pars Petrochemical, Almas Mahshahr
Petrochemical, and Hormoz Petrochemical, each with €200 million in planned
issuance. Additionally, Howeyzeh Gas Refining Co. and Dehdasht Petrochemical
Co. will each secure €100 million in financing through Murabaha Sukuk.
Officials say the program aims to diversify
funding sources for Iran’s petrochemical industry, which remains a cornerstone
of the country’s non-oil exports and foreign currency earnings despite
international sanctions.