$500m bonds issued for irrigation projects

TEHRAN, Sept. 20 (MNA) – Cabinet ministers approved the issuance of $500 million participation bonds for the implementation of the Energy Ministry projects in the Khuzestan Province.

According to the arrangement the Ministry of Energy is permitted to issue $500 million participation bonds in the framework of the banking regulations in order to complete civil operations in Khuzestan Province.

 $490 million worth of participation bonds will be issued for irrigation projects and $10 million of it will be issued for Khuzestan Water and Power Authority for the completion of Bala-Rood Dam.

MRK/SJ

END

MNA

News Code 41993

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