Transportation ministry to make public offering in Iran
Azerbaijan, Baku, Feb. 18 / Trend M. Moezzi /
Iran's Ministry of Roads and Transportation will offer $570 million in participation bonds tomorrow, Fars news agency reports.
Money raised from the sale will fund infrastructure projects, said Seyed Ahmad Sadeghi, deputy transportation minister. The ministry has permission to offer a little over $3 billion in bonds to the public for financing its projects. The government serves as the bonds' guarantor.
This offering follows the sale of bonds by the National Iranian Oil Company (NIOC) to fund its oil and gas projects and by Iran's Water & Power Resources Development Company (IWPCO) to help pay for hydroelectric projects in recent weeks.