简体中文
By APD writer Muhammad Sohail
Iranian cabinet has approved around 2.21 billion U.S. dollars finance for implementation of four power plant and railway projects, local media reported Wednesday.
It was proposed by the Planning and Budget Organization (PBO) of Iran and it was approved during a cabinet meeting earlier this week.
The finance includes 390 million U.S. dollars for a project to renovate and modernize Ramin Power Plant in the southwestern city of Ahvaz, and 309 million U.S. dollars for a project to boost generation capacity of Gatvand Hydroelectric Power Plant in the southwestern province of Khuzestan,
The approved budget also includes 774 million U.S. dollars million for building Zahedan-Birjand railway and connecting it to Bafq-Mashhad railway, and an amount of 738 million U.S. dollars for a project to supply city and inter-city wagons.
The approved finance would be provided in a 10-year period and the country’s Ministry of Finance and Economic Affairs is authorized to sign the finance allocation deals.
The approved plan has been declared to the related organizations while about 10.2 billion U.S. dollars will be allocated for development projects in the next year’s budget plan.
An official told media that the government intend to invest as much as it can in the development sector in the next year, so that it why it has increased the budget for this sector by 53 percent.
The official added that the government has decided to allocate all revenues from oil sales to the development projects.
(ASIA PACIFIC DAILY)
