Process of Issuing Agreement in Principle
Issuing agreement in principle Approval process and entrusting petrochemical projects to investors
First step: documents required · A copy of the original document of the company constitution · A copy of the original: From first and last official newspapers displaying company changes · A copy of the original: From registration documents, including registration certificate, national ID and economic code · 2 recent years financial statements approved by the regulators or audit organization · Applicants, executive background in the past two years and any activities related to the requested projects · Preliminary Business Plan /Feasibility Study · Finance Package plan
Second step: Documents Evaluation · Verification of the applicant company's legal capacity and ... · Evaluation of Preliminary Business Plan /Feasibility Study · Investigating Feedstock availability · Evidence of financial capability · Evidence of technical and administrative capabilities of the applicant company · Making enquiry from the relevant ministries and agencies
Third step: Issuing agreement in principle · Necessary correspondence with other entities including the Ministry of petroleum, Ministry of Industry, Mine and Trade · Bringing up the project report (financial/ technical capability of Investor) at the NPC Board of Directors and obtaining the necessary approvals · Issuing primary agreement of the project to planning deputy of Ministry of Petroleum. · Issuing agreement in principle of the project by planning deputy of Ministry of Petroleum with specified time validity |