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National Development Fund of Iran continuous investments in mega projects

Finance Materials 12 September 2022 16:04
Tehran, Iran Trend News Agency
National Development Fund of Iran continuous investments in mega projects

The National Development Fund of Iran is investing in mega projects in petrochemical, oil and steel industries, said the chairman of the National Development Fund Mehdi Ghazanfari, Trend reports citing IRNA.

The new policies of the fund will view oil revenues as an investment in development projects instead of wealth, he said.

The official suggested that the National Development Fund could use total oil and gas revenues and invest in businesses and pay for the country’s budget from the interest rate.

Ghazanfari pointed out that the fund will invest in the launch of new businesses and be a partner in development projects in the country including petrochemical, steel and upstream oil industries.

According to Ghazanfari, the profit from mega projects’ revenue will be used for investment in new projects. Investment in mega projects would promote production and increase export.

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