NPC News Bulletin- Conferences

In February 2000, financing arrangements for some of the NPC's development projects were concluded. The projects include the LLDPE and Butadiene plants of the olefin 6&7 complex, the butadiene plant of Tabriz Petrochemical Company and a power generation plant at Petrochemical Special Economic Zone (Petzone). The facilities are based on traditional export credit facilities covered by the insurance agencies (ECAs) of the countries involved. Iran's Ministry of Economic and Finance Affairs has secured the facilities. The total amount of the concluded facilities is around $340mn. In the meantime, NPC has also planned to arrange financing facility of about $400mn in March 2000. The facility will be used for implementing a water treatment plant at Petzone, an ABS plant at Tabriz Petrohcemical Company and the 3rd aromatic complex and a part of engineering polymers project.

In February 2000, NPC and Sumitomo Corporation of Japan entered into a Credit Facility Agreement for the execution of an ABS plant at Tabriz Petrochemical Complex (TPC), northwest of Iran. The facility, secured by NIOC corporate letter of guarantee, will provide $11mn for a portion of the project. The tenor of the facility is 6 years consisting of a 2-year construction period and a 4-year repayment period.

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