Bank Shahr Provides 800 Million Euros for Reconstruction of South Pars Facilities Damaged in the Ramadan Imposed War

Hamid Bord, Acting Minister of Petroleum, accompanied by the CEO of Bank Shahr and a group of senior officials from the ministry, inspected the reconstruction of the Fifth Refinery of the South Pars Gas Complex in Phases 9 and 10. The visit aimed to review the latest status of reconstruction, assess measures taken to restore facilities damaged in the Ramadan Imposed War, and identify ways to accelerate the return of lost capacity to production.

According to Ambassador Arjan, citing the public relations of Shahr Bank, Hamid Bord, Acting Minister of Oil, during this visit, referring to the conditions caused by the war crimes of the American-Zionist enemy and the damage caused to the country's oil and gas industry facilities, appreciated Bank Shahr's support to the oil, gas and petrochemical industries and considered this support important in the path of rebuilding the damaged infrastructure and strengthening the country's production capacity. The board also emphasized the need to strengthen cooperation between the banking system and the industry. Naft called the banks' financial support for the strategic plans of this industry an effective factor in accelerating the process of rebuilding damaged facilities, returning production capacities and continuing the activities of the country's gas industry. Dr. Seyed Mohammad Mahdi Ahmadi, CEO of Shahr Bank, also during this visit, while reviewing the process of the reconstruction of the fifth refinery in South Pars, discussed with the senior managers of the Ministry of Oil and Gas Industry about the cooperation capacities and the role of financing in accelerating the reconstruction operations. The strategy of the oil, gas and petrochemical industry in the country's economy is to support the driving industries and meet their financial needs as one of the important axes of Bank Shahr's activity and stated: Bank Shahr stands by the oil, gas and petrochemical industries to support production and strengthen the economic infrastructure of the country by developing monetary, financial and credit services. The CEO of Bank Shahr emphasized the importance of financing large industrial projects and added: using the capacities of the banking system and designing solutions suited to the needs of industries, an effective role in accelerating the implementation infrastructure projects, providing equipment and returning the damaged units to the production cycle. Financing of more than 800 million euros for the reconstruction of South Pars, Shahr Bank, by participating in the financing of more than 800 million euros for the reconstruction project of the fifth refinery of South Pars, plays a role in supporting the restoration of damaged facilities of the gas industry and strengthening the stability of the country's energy supply. This project, which includes phases 9 and 10 of South Pars, with the client Pars Oil and Gas Company and partnership The engineering and construction companies of Oil Industries (Avik) and Payandan are implemented in the form of an engineering, supply, construction and financing (EPCF) contract. During the American-Zionist imposed war, a number of gas refineries in the South Pars region were targeted by enemy attacks, which resulted in damage to the facilities and a reduction in part of the country's gas processing and production capacity. Hence, it is very important to evaluate the reconstruction process, identify implementation obstacles and take the necessary measures to accelerate the restoration of damaged capacities, with the aim of strengthening the stability of the gas network and providing the energy needed by the country on the eve of the cold season of the year. In recent years, Shahr Bank, by developing its cooperation with large companies active in the oil, gas and petrochemical fields, has provided specialized banking and financial services, including financing, opening letters of credit and issuing bank guarantees to these industries. is Supporting the industries damaged in the imposed war, especially in the petrochemical sector, is also pursued in the framework of this bank's approach to support production and maintain the strategic capacities of the country's economy.