A bilateral collaboration agreement was signed by Ali Yari, CEO of Sepaher Energy Holding, and Rahim Taheri, Deputy CEO of Bank Shahr.
During the ceremony, the CEO of Sepaher Energy Holding stated, “Petrochemicals, as the country’s main source of foreign currency, and the banking system, as a supporter of domestic producers, ensure the Islamic Republic of Iran’s economic prosperity and development, as well as implementing the Supreme Leader of the Revolution’s desired slogan. As a result, collaboration between these two forces becomes necessary for the country’s progress.”
According to engineer Ali Yari, “The fundamental basis of this group’s agenda is the financing of projects in this holding, with a priority on completing the Dena and Siraaf Energy projects, and the signing of this cooperation agreement is in line with that.”
The creation of specialised working groups between the holding and the bank was also stressed by him. He said: “A comprehensive plan for the development of collaborations with Bank Shahr has been made so that, with a specialised approach, effective steps can be taken towards achieving the lofty goals of both entities.”
“Using the financing made available by this agreement, it is hoped that Siraaf Energy Petrochemicals will make a 59% progress and Dena Petrochemicals will make a more than 80% progress in accordance with the planned schedule,” Yari concluded, “increasing the nation’s methanol production and generating more than 1,000 long-term jobs.”
During the occasion, the Deputy CEO of Bank Shahr stated, “This bank, as a pioneer in assisting the country’s petrochemical industry, has a comprehensive programme to promote local manufacturers in this area and has long considered itself a supporter of industrialists.”
Taheri continued, “The bank’s management team has identified investment in the value-added petrochemical sector as one of its top goals in order to both solve producer concerns and spur economic growth.”
The focus of this ceremony, which was attended by senior Bank Shahr managers as well as Farhad Jahangiri, the deputy CEO and a member of the board of directors of Sepaher Energy, was on offering facilities, financing in both domestic and foreign currencies, brokerage services, setting up an investment fund, and currency exchange services.
