Iran’s energy ministry to give unsold bonds to creditors
Azerbaijan, Baku, Feb. 27/ Trend F.Milad/
The Iranian Energy Ministry will provide its creditors with unsold participation bonds which have recently been issued to finance the domestic water and power projects, ISNA news agency reported on Monday.
The ministry issued some 30 trillion rials (about $2.5 billion) in bonds in the current calendar year, which started on March 21, 2011, but the public did not welcome the bonds due to a low profit, Energy Minister Majid Namjou told ISNA news agency.
Iranian deputy energy minister predicted that the country's value of electricity exports will hit $1 billion by the end of the current calendar year (March 19, 2012).
The Mehr news agency quoted Mohammad Behzad as saying that technical and engineering services worth $3 billion will be also exported by the end of the year.
"Iran currently exchanges electricity with Turkey, Armenia, Turkmenistan, Azerbaijan, Pakistan, Afghanistan and Iraq," he said.