Iran allocates $163 million to finance water and wastewater projects

Business Materials 23 October 2012 19:12 (UTC +04:00)

Azerbaijan, Baku, Oct.23/ Trend G.Mehdi/

Iran allocated 2 trillion rials (some $163 million) for the implementation of water and wastewater projects nationwide, IRIB quoted managing director of Iran's Water and Wastewater Engineering Company, Mehdi Samareh-Hashemi, as saying.

He added that the sum will be secured through selling participation bonds.

On August 6, the Mehr News Agency reported that the Islamic Development Bank has approved a 170 million-euro ($210 million) loan for wastewater plant upgrade in Tehran.

Mehr cited Tehran Water and Wastewater Company's managing director Mohammad Parvaresh as saying that the loan will be used to establish a sewage treatment plant in western Tehran.

Iran received a $50 million World Bank loan in October to help develop wastewater projects in northern Iranian cities.