BAKU, Azerbaijan, Feb.15
Trend:
The Social Security Investment Company (SHASTA) is expected to have 80 projects launched, worth $190 million, said the company's CEO Mohammad Rezvanifar, Trend reports citing IRNA.
"SHASTA has launched 33 projects worth $400 million of investments in the current Iranian year (started March 20,2020)," said Rezvanifar.
"The latest statistics indicate SHASTA's solid profit in the current fiscal year, which ends in June 21, which was $7.3 billion - an increase of $3.5 billion from the previous fiscal year," he said.
Rezvanifar added that share owners of SHASTA on the stock exchange should have long term approach for investments in the capital market.
"Good news about the new mine, steel and mineral products and exploration of mines have increased the value of companies. This would assure that investments in SHASTA and its subsidiary companies would be profitable," he said.
"While SHASTA has obtained a permit from Securities and Exchange Organization to increase its capital by bonus shares and earned profits, it would soon increase its capital by 77 percent," he said.