TEHRAN (PIN) -- The sales of the Fajr Petrochemical Co. participation bonds began Saturday on a national scale.

Fajr Petrochemical Company is one of the largest utility projects (water, electricity, and gas production) of the National Petrochemical Industries Company.
The PR of NPIC has stated that the company has put its stock on sale in order to attract cooperation by the public in petrochemical projects and create suitable conditions for assured and profitable investment.
The Fajr Petrochemical Co. participation bonds sales will continue until March 6, 2008 in specified Tejarat Bank branches.
The interest rate on the stock offered is 15.5% but the project has realistic interest returns of 16-17.5% which is paid out on a daily basis.
One of the most important merits of the stock mentioned is that final extra cooperation interest coupons will be handed out together with stock documents where the extra interest will be paid to buyers through said coupons.
The stock is anonymous, exempt of taxes, non-restricted for resale, and considered for three years. The interest will be paid every three months and is guaranteed by Tejarat Bank.