Iran invests 977 million euros in Mehr Mandegar projects
Azerbaijan, Baku, Nov.20/ Trend F.Milad/
Iran has allocated some 977 million euros towards its Meh Mandegar projects, the INLA News Agency reported.
The Mehr Mandegar Plan aims to complete semi-finished projects in Iran. Some 2.19 trillion rials has also been invested in the projects so far.
The Mehr Mandegar projects are supposed to come on stream by June 2013. Some will also be completed by the end of current Iranian calendar year (March 19, 2013).
Deputy Minister of Industries, Mines, and Trade Reza Fatemi-Amin previously announced on October 4 that about 100 Mehr Mandegar projects will be inaugurated by the end of the current Iranian year.
Fatemi-Amin said that out of 188 Mehr Mandegar projects, 157 pertain to the private sector, while 31 are state projects.
He said industrial investments worth 100 trillion rials will be made by the yearend.
In light of the collaboration by the banks, Mehr Mandegar projects were prioritised to receive financial facilities, he added.
Fatemi-Amin put the number of semi-finished industrial projects at 6800. "The operating licence of semi-finished projects which have made actual progress of less than 20 per cent for more than three years will be annulled."
Those involved in the Mehr Mandegar projects should present a report about the physical progress of their work every six months, he said. "They should extend their operating licence otherwise it will be annulled."
"Based on the current year's budget law, close to 10 per cent of rial assets belonging to the National Development Fund (NDF) is allocated for the production units' cash flow."
At the first stage, 250 big enterprises were introduced to the banks to receive seven trillion rials, he said. "Long term measures such as offering sukuk bonds for 50 big enterprises were conducted."