A memorandum of understanding (MOU) between Mellat Investment Bank and Hormoz Persian Gulf Petrochemical Co
Date: 17/11/2021
A memorandum of understanding (MOU) between Mellat Investment Bank and Hormoz Persian Gulf Petrochemical Co
On the sidelines of an exhibition titled "Empowerment and Support of Companies Based in Assaluyeh for Meeting General and Specialized Needs of Petrochemical Companies in this Region", Mellat Investment Bank concluded an MOU with Hormoz Persian Gulf Petrochemical Co.

As Reported by the public relations of Mellat Investment Bank, In addition to attending the exhibition of "Empowerment and Support of Companies Based in Assaluyeh for Meeting General and Specialized Needs of Petrochemical Companies in this Region" from November 15 to 17, 2021, in Assaluyeh, Mellat Investment Bank managed to conclude an MOU with Hormoz Persian Gulf Petrochemical Co. 

In this regard, Seyed Ruhollah Hosseini Moghaddam, the Managing Director of Mellat Investment Bank, stated, “The subject of the MOU concluded with Hormoz Persian Gulf Petrochemical Co. is financial consulting services for designing financing methods through the capital market and the banking network.” He added, “The two-year duration of this MOU is extendable.”
It is noteworthy that Hormoz Persian Gulf Petrochemical Co. is planning to raise its capital from 100 billion Tomans to 1,100 billion Tomans through cash contributions and matured claims of shareholders. Moreover, the total capital needed for the operation of development projects of Hormoz Persian Gulf Petrochemical Co. is estimated at 20,000 billion Tomans, which will be provided by Mellat Investment Bank through bank facilities and other financing methods.

This MOU was signed by Seyed Ruhollah Hosseini Moghaddam, the Managing Director of Mellat Investment Bank, and Amir Massoud Jamshidi, the Managing Director of Hormoz Persian Gulf Petrochemical Co.