Iran invests $3.3 billion to complete 2,000 semi-finished projects

Business Materials 1 December 2012 11:54 (UTC +04:00)

Azerbaijan, Baku, Dec.1/ Trend G.Mehdi/

The Iranian Ministry of Industry, Mine and Trade has completed 2,000 semi-finished projects through investing 40 trillion rials (about $3.3 billion), IRIB reported on Saturday.

The highest amounts of investment have been carried out in Isfahan, Khorasan Razavi, and Tehran provinces, creating some 10,000 jobs, according to the report.

The Iranian government and parliament have agreed to finance production sector projects using the revenues of the National Development Fund (NDF) and oil exports.

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 Sept.13.

Mohammad-Qasem Hosseini added that the sum will be turned into rials to finance domestic projects in industry, mine, water, and agriculture projects, Fars News Agency reported.

On May 15, the industry, mine and trade minister said that ten per cent of the NDF's assets will be allocated for supporting the domestic production sector.

Mehdi Ghazanfari told IRNA that three percent of assets of specialized industry and agriculture banks will be also paid to boost the production sector.