Majlis Approves Issuing $5.5b in Bonds to Fund O&G Development Projects

Source: Tehran Times 3/1/2015, Location: Asia

The Iranian parliament (Majlis) approved a bill, according to which the administration will be allowed to issue 150 trillion rials (about $5.5 billion) to fund national development projects.

The fund will be used to implement oil and gas projects as well as complete semi-finished development plans.

The development of joint oil and gas fields, the expansion of public transportation fleet, the establishment of water and wastewater treatment facilities as well as power plants, and the construction of sport complexes have been prioritized.

In June 2014, Iranian Government Spokesman Mohammad-Baqer Nobakht said the administration of President Hassan Rouhani needs $400 billion to complete semi-finished development projects across the country.

There are 2,906 projects semi-finished nationwide, Nobakht added.

“We will allocate the lion’s share of the national development budget to completing the projects which are done by over 80 percent,” he said.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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