Iranian government to finish incomplete projects

Business Materials 31 August 2020 09:53 (UTC +04:00)
Iranian government to finish incomplete projects



Ministry of Industries Mine and Trade agenda is to finish incomplete projects and revive inactive units to improve production, said an official in the ministry.

"So far 285 production units have been revived from 3,900 incomplete projects with 80 percent progress," said Alireza Hadi, Trend reports citing Mehr News Agency.

"Major problems that have been identified in incomplete plans include mismanagement, financial constraints, insufficient construction materials, infrastructural problems, environmental and water as well as power and gas supply issues. Some of the projects only have one of these issues," he added.

"There were management problems in 140 cases while 120 projects had financial problems, 80 cases have an issue in providing basic materials supply and 115 cases had infrastructural problems," he noted.

"There is ongoing progress in 400 industrial units that mainly face financial issues that the ministry seeks to resolve," Hadi said.

"A system has been designed for the sale of suspended enterprises where new investors can apply to participate in completing the unit by evaluating the property's debts, value, previous advances that are available to view online," he added.

"It is expected that data of 13,000 incomplete projects with more than 60 percent progress would be released online to facilitate the process of attracting investors," he said.