Iranian official: 70% of foreign investments account for alternative energy sector

Business Materials 11 November 2018 13:06 (UTC +04:00)

Baku, Azerbaijan, Nov. 11

By Elnur Baghishov – Trend:

Seventy percent of foreign investments in Iran’s Razavi Khorasan province have been made to alternative and renewable energy sector this Iranian year, Mehdi Ramezani, director general for economic and financial affairs in the directorate-general of Razavi Khorasan province, said in an interview with IRNA.

He added that 21 investment projects worth $117 million in Razavi Khorasan province within seven months of this Iranian year (started March 21, 2018) have been approved and licensed by the Investment Committee.

Two new projects worth $2 million have been sent for the Investment Committee to give a license, he added.

Ramezani added that six projects have been approved during the reporting period, while the remaining projects were almost approved.

Foreign investment projects in Razavi Khorasan have been implemented in service sector, industry and agriculture, he said.

Ramezani added that most of the foreign investment projects approved in Razavi Khorasan are not large-scale and will be commissioned soon.

Therefore, this province ranks first in the number of foreign investment projects, he said.