Azerbaijan, Baku, Dec.13 /Trend, A.Yusifzade /
Ramazan Ovladi, program manager in the National Petrochemical Company (NPC), announced about a new agreement on investing $20 billion to build and develop 35 petrochemical projects with five local banks, Mehr reported.
Ovladi said that roughly 21 petrochemical projects worth $ 6 billion have been already financed by National Bank (Bank Melli).
"The agreement on $ 4 billion-investment, necessary for constructing the Damavand petrochemical complexes, has been achieved with the bank Mellat", Ovladi said.
According to the agreement, roughly $ 2 billion will be allocated by the Pasargad Bank for four petrochemical projects, $ 3.5 billion by the Iranian Export Development Bank for four petrochemical projects. Saderat Bank will invest $7 billion, Sepah Bank - $1 billion, Ovladi said.
