Baku, Azerbaijan, Sept. 19
By Elnur Baghishov - Trend:
The Industrial Development & Renovation Organization of Iran (IDRO Group) has spent over 500 billion rials (roughly $11.9 million) on the development and implementation of industrial projects in the country's Sistan and Baluchestan province in the current Iranian year (started March 21, 2019), IDRO Deputy Chairman Mohammad Reza Abdollahi said, Trend reports citing the website of the organization.
Till the end of the current Iranian year, the organization is expected to invest over 700 billion rials (roughly $16.6 million) in its projects in Sistan and Baluchestan province, Abdollahi said.
He added that the IDRO projects need foreign currency reserves, as well as purchase and installation of equipment.
Though the organization tries to hold tenders, contractors have not shown interest in these projects, he added. According to him, the reason behind this is the liquidity issues.