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Iran to inaugurate development projects worth $2.5b in coming days


Iran to inaugurate development projects worth $2.5b in coming days



Hundreds of development projects, valued at $2.5 billion, will come on stream in Iran during the Ten-Day Dawn celebrations (February 1-11), marking the anniversary of the victory of the Islamic Revolution.

Some 400 industrial and mining projects, valued at 51.244 trillion rials (about $1.483 billion) are planned to come on stream in the country, creating jobs for 15,390 persons, the Fars News Agency reported on Sunday.

Meanwhile, eight new power generation units will come on stream at a cost of 2.128 trillion rials (about $61.609 million) plus €907.6 million - totally about $1.1 billion - in four combined cycle power plants.

Iranian President Hassan Rouhani has announced that the cabinet plans to increase the development budget by 50 trillion rials (about $1.47 billion) in the national budget bill for the next Iranian calendar year compared to the current year’s national budget.

He added that the cabinet is considering a proposal to allocate 461 trillion rials (about $13.96 billion) for the development budget for the next Iranian calendar year, which begins on March 21, 2015.

Rouhani said the government has already allocated over 200 trillion rials (about $6 billion) for the implementation of national development projects in the current year, adding that the figure will be increased to 300 trillion rials (about $9 billion) by the end of the current year.