Iran's private sector to complete semi-finished government projects

constructionA total of 15 steel, petrochemical and power plant projects are reportedly ready to be transferred to the private sector. (Image source: Fernando Mengoni/ Iranian Privatisation Organisation (IPO) has announced it has prepared a by-law for transferring semi-finished government projects to the private sector

According to the Islamic Republic of Iran Broadcasting (IRIB), IPO managing director Mohammad-Rahim Ahmadvand said the Iranian government had agreed to finance production sector projects using the National Development Fund (NDF) and revenue from oil exports.

Ahmadvand, who said that 15 steel, petrochemical and power plant projects were ready to be transferred to the private sector, noted that the move would help create job opportunities and boost domestic production,

The Islamic Republic News Agency (IRNA) reported in January 2013 that, according to Iranian first vice-president Mohammad-Reza Rahimi, the government had allocated US$94bn for the completion of semi-finished national projects.

The Iranian Ministry of Industry, Mine and Trade also announced in December 2012 that it had invested US$3.3bn in order to complete 2,000 semi-finished projects, IRIB reported.

The provinces which witnessed the greatest amount of investment were Isfahan, Khorasan Razavi, and Tehran, creating some 10,000 jobs.

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