Iran to allocate $300M for new irrigation systems

Business Materials 12 January 2019 09:49 (UTC +04:00)

Tehran, Iran, Jan.12


Iran has allocated $1.5 billion to develop new irrigation systems during the past three years, meanwhile, the National Development Fund is set to allocate $300 million to this sector in the next Iranian year (starts March 21, 2019).

"The Agriculture Minister has suggested the allocation of $300 million to new irrigation systems, and it has been approved by the National Development Fund, and now waiting for the parliament's authorization," said Iran's Deputy Agriculture Minister Ali Morad Akbari , Trend reports citing ILNA.

“Due to Supreme Leader’s emphasizing on the need of modernization of the irrigation system, the parliament will approve the bill soon,” he said.

“A total of $1.5 billion has been allocated to development of irrigation systems in past three years and assigning $300 million to this sector would create an immense jump," he added.

Akbari said that 95 percent of irrigation equipment is manufactured domestically, and it would be used after proper testing.

The official went on to add that Iran exports some of its irrigation equipment to Turkmenistan, Afghanistan, Iraq, Spain and some European countries alongside Central Asia.

“The US sanctions have no impact on Iran relations with countries who own agricultural technologies, the number of foreign companies in the Agriculture Exhibition did not go through dramatic change and Iran had negotiations with countries that have (agricultural) technology," he insisted.