Economy, Domestic Economy

Private Sector to Complete Abandoned Projects in Iran

Private Sector to Complete Abandoned ProjectsPrivate Sector to Complete Abandoned Projects

The government has handed over 4,131 abandoned development projects to the private sector, the head of Planning and Budget Organization of Iran said.

Noting that Iran’s development budget over the past few years stood at an average of 300-400 trillion rials ($7.5-10 billion) annually, Mohammad Baqer Nobakht added that the government needs 6,000 trillion rials ($150 billion) to carry out all abandoned development projects, the Persian daily Iran reported.

A large number of these projects are a carry-over from the previous administrations. These projects were initiated without proper feasibility studies and later came to a halt due to a lack of funding.

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