NDF to be tapped for petchem project

TEHRAN July 9 (Shana)–Iran is to withdraw two billion dollars from National Development Fund (NDF) for financing refining and petrochemical projects, the NDF director said.

 Safdar Hosseini said the sum is to be allocated in the current calendar year to March 2015.

“Investment in this sector has relative advantage due to the exports aspects of petrochemicals,” he said.
Hosseini said the NDF’s balance is at 40 billon dollars, adding that 2.8 billion dollars is to be earmarked for industry and agriculture.

He said 200 million dollars will be allocated to the Office of Vice-President for Science and Technology and seven billion dollars to upstream oil sector.  

Hosseini said two billion dollars is also expected to go to steel production industry, one billion dollars to airplane and wagon purchase and one billion dollars to development of Shahid Rajaei and Chabahar ports.

By SHANA

 

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