Azerbaijan, Baku, Oct.31/ Trend G.Mehdi/
Iranian researchers have managed to produce frequency convertors for variable speed motors, ISNA quoted the head of the Elm-o Sanat University of Technology research group Hamidreza Tayyebi as saying.
Such motors are widely used in rail, cement, copper, steel, and oil industries, he said, adding that manufacturing such products using indigenized technology can save the country huge amounts of foreign currency.
On October 17, the Mehr News Agency quoted Deputy Industry, Mine and Trade Minister Reza Fatemi-Amin as saying that Iran's production sector is in need of 700 trillion rials (about $57 billion).
A portion of the sum had been planned to be secured through turning 10 percent of the National Development Fund's (NDF) assets into rial based on the current year's budget act, he added.
Domestic producers are grappling with many problems, as the unprecedented high rates of foreign currencies have raised production costs tremendously, he noted.
The NDF has allocated $3 billion worth of its assets to pay facilities in loans to the agriculture and industry sectors, the NDF's deputy manager said on September 13.