TEHRAN (NIORDC) __ The CEO of Tejarat Bank, stating that 40% of the bank"s capacity is focused on oil and petrochemical projects, said: "During the last two weeks, a contract worth €600 million was signed in the Kermanshah refinery."

Addressing the signing ceremony of the Memorandum of Understanding for financing the construction of the Mehraran-Fasa-Shiraz (Pars) pipeline between NIORDC and Tejarat Bank, and was attended by the Ministers of Petroleum and Economy on Sunday, March 6, Hadi Akhlaghi-Feyz said: "Tejarat Bank is one of the financial institutions that has had a continuous presence in the oil and petrochemical industry due to its type of business."

Akhlaghi-Feyz, while expressing satisfaction with the signing of the Memorandum of Understanding on Pars Oil Products Transmission Pipeline, stated: "Tejarat Bank is interested in cooperating with the Ministry of Petroleum in development projects for the oil, gas and petrochemical industries."

According to him, approximately 40% of the capacity of Tejarat Bank has been allocated to the oil and petrochemical industry in either a centralized or decentralized manner.

Akhlaqi-Feyz acknowledged that the bank has spent about $20 billion on remittances from the calendar year of 1399 (which ended on March 20, 2021) to the current calendar year, despite economic risks and sanctions.

Akhlaghi-Feyz in the end, pointing out that Tejarat Bank has paid 60,000 billion Tomans in facilities since 1399, added: "Today, the oil industry is the driver of the country"s economy and we hope this industry will be a source of blessing for the country."