Uncompleted projects in Iran valued at $130B

Business Materials 21 July 2016 16:42 (UTC +04:00)

Baku, Azerbaijan, July 21

By Emil Ilgar – Trend:

Iran has about 4,000 trillion rials ($129.4 billion based on the official USD rate) uncompleted projects, Parliament Speaker Ali Larijani said July 21.

He added that most of these projects have been suspended due to financial problems, Fars reported.

"Parliament insists on delivering the projects to private sector, but privatization of projects continues slowly," he added.

IRNA reported on June 17 that the Iranian government would need $68 billion if it is to accomplish the unfinished projects that have remained from previous administrations.

"Over 2,900 unfinished projects currently remain from the previous administrations", IRNA reported.