Iran issues more than $ 2 billion bonds

Business Materials 30 May 2011 11:16 (UTC +04:00)

Azerbaijan , Baku, May 30 /Trend/

Iranian government approve the issue of more than $ 2 billion bonds for developing energy sector and power plants, IRNA reported quoting Iran's Energy Minister Majid Namjou as saying.

"The cabinet approved issue of $2,100 billion bonds for developing power network and plants on Sunday meeting,'' he said.

The Iranian official noted '' the bonds will be issued soon''.

Iran seeks to encourage investors and private sectors to join developing plans in different areas.

Iran capital market has showed significant growth in recent year as the indicators in Iran stock Exchange doubled.

The U.S. Congress approved financial sanction against Iran in 2010 which impose strict conditions for foreign investors and financial firms.