100 Mehr Mandegar Projects by Yearend

About 100 Mehr Mandegar projects will be inaugurated by the end of current Iranian year (to end March 2013), announced deputy minister of industries, mines, and commerce for planning affairs.

Speaking at a press conference, Reza Fatemi-Amin said that out of 188 Mehr Mandegar projects, 157 pertain to private sector, while 31 are state projects, shatanews.ir wrote.

Mehr Mandegar Plan aims to complete semi-finished projects. He said industrial investment worth 100 trillion rials will be made by the yearend.
In light of collaboration of banks, Mehr Mandegar projects were prioritized for receiving financial facilities, he added.

Fatemi-Amin put the number of semi-finished industrial projects at 6800. “The operating license of semi-finished projects, which have made physical progress less than 20 percent for more than three years, will be annulled.”

Those involved in Mehr Mandegar projects should present a report about physical progress of the work every six months, he said. “Based on current year’s budget law, close to 10 percent of rial assets of National Development Fund (NDF) is allocated for cash flow of production units.”

At first stage, 250 big enterprises were introduced to banks to receive 7 trillion rials, he said. “Long-term measures such as offering sukuk bonds for 50 big enterprises were conducted.”