The National Development Fund invests in Tapico projects – Tejaratnews
According to Tejarat News, on Wednesday, in the meeting of the senior managers of the National Development Fund and Tamin Oil, Gas and Petrochemical Investment Company (Tapico), foreign currency and Rial investment solutions in the projects of Tapico’s subsidiaries were discussed.
In this meeting, Mehdi Ghazanfari, the head of the National Development Fund’s executive committee, announced the fund’s plan to invest in development and profitable projects in the country and called Tapico Holding one of the goals of these investments. In this meeting, Babak Oghahi, head of Tapico, presented the extensive plans of this holding to invest in oil, gas and petrochemical development projects.
By stating the position of Tapico in the portfolio of Social Security Investment Company, he emphasized the need to pay attention to investing in Tapico Holding to help reduce the operating balance deficit of Social Security in the coming years and discussed the vast investment capacities in this holding. .
It should be noted that based on the new powers given to the National Development Fund according to the legal approvals, this fund can participate in investment projects in the country in addition to granting foreign exchange facilities to projects.
On the other hand, due to the fact that Tapico Holding, having more than 90 management and non-management companies, has a high share in the country’s oil, gas, petrochemical, cellulose and rubber industries, it has included large development projects for these companies, the implementation of which will increase Foreign exchange income for the country will also create extensive employment.
Since the National Development Fund intends to make the majority of its investments in the oil and gas sector, according to the agreement with Tapico, it was decided that Tapico should submit its investment plans in the upstream, midstream and downstream sectors of oil, gas and petrochemicals to the National Development Fund. And after the agreement, they will be financed by the National Development Fund.
Considering that in the new strategy, the National Development Fund will have the capacity to invest more than 50 billion dollars in the oil and gas and petrochemical industries, this agreement will make the most historic investment in the projects of Tapico and its subsidiaries and will make Tapico Holding Iran’s largest specialized-industrial parent company will transform.
Source: Tasnim