Domestic Petrochemical Equipment Producers Seek Support From Banks

Iranian manufacturers of equipment and parts used in the petrochemical industry should be backed by the government and domestic banks, the managing director of Tamin Petroleum and Petrochemical Investment Company said.
“The banking system should increase its financial support for domestic petrochemical plans to help reach the envisioned economic goals,” Mohammad Hassan Peyvandi was also quoted as saying by NIPNA, the National Petrochemical Company’s news agency, last week.
According to Peyvandi, Iranian manufacturers boast an acceptable quality and know-how, and have had a significant role in the petrochemical industry’s development in the past few years.
“Iranian banks, I believe, should change their approach about supporting domestic industries and follow in the footsteps of developed countries in this regard,” he said.