Minews - Iran plans $32bn spend on projects in 8 sectors

(Minews) - Iran’s National Development Fund (NDF) has earmarked $32.7 billion for development projects in eight sectors, a report said.

Out of this allocation, oil and gas projects get about $10 billion, while $6.2 billion is assigned for construction of refineries and development of petrochemical sector, according to the Tehran Times report, which cited the Irna news agency.

New water projects get $5.4 billion and $3.3 billion is reserved for construction of power plants, the report said.

The fund has also allocated $3.2 billion to development of steel industry, $2.6 billion to implementation of rail projects, $1 billion to implementation of water treatment and transmission projects and development of agriculture sector, and $1 billion to implementation of industrial and mining, tourism and water management projects, Irna reported.