Government needs 13 years to complete unfinished projects – Iran official

Business Materials 10 July 2018 16:46 (UTC +04:00)

Tehran, Iran, July 10

By A. Shirazi - Trend:

Sadeq Yazdani, the regional deputy of Iranian Association for Cost Estimation, said the government, has nearly 76,000 unfinished infrastructure projects at hand, completion of which would require around 500,000 billion rials in investment.

He added that it would take at least 13 years for the government to complete the unfinished projects, considering the resources available, Mehr news agency reported on July 10.

The lingering unfinished projects are typically funded by the government as well as the National Development Fund of Iran—a sovereign wealth fund that receives a fraction of the country’s oil revenues - commercial banks and private contractors.

The Iranian official further said that the government does not have the ability to finish the projects, adding, “The government needs to get help from popular organizations in order to be able to complete the projects”.

Last year, Iran Chamber of Commerce, Industries, Mines and Agriculture, in conjunction with the Planning and Budget Organization of Iran, released a comprehensive list of unfinished government projects ready for transfer to the private sector.

The list included 1,049 unfinished projects at the national level and 2,886 projects at the provincial level.