Iranian production units need $60 bln operating capital

Iran Materials 12 May 2014 18:02 (UTC +04:00)

Baku, Azerbaijan, May 12

By Fatih Karimov - Trend: Iranian production units need over $60 billion operating capital in the current year.

Iranian industry minister Mohammad Reza Nematzadeh said the banking system secured just half the production units' operating capital in the past year, Iran's IRIB reported on May 12.

The Iranian year begins on March 20.

He added that about $2.8 billion will be invested in 17 large industrial projects this year. The projects will create over 10,000 jobs, he noted.

The official USD rate in Iran is about 25,524 rials.

Some $48 billion worth of road and transport projects are semi-finished in Iran, ISNA quoted Iranian Parliament's vice speaker Mohammadreza Bahonar as saying on Dec. 11.

Yet the current year's budget bill has allocated about $15.3 billion to development projects, he added.

Edited by C.N.