Date: 24 January 2017 , 00:00
News ID: 901
NEWS SERVICE: ECONOMY and TRADE

IMIDRO Seeks $3b Loan From NDFI

The mining sector needs to borrow $3 billion from the National Development Fund of Iran for its development and growth, says the head of Iranian Mines and Mining Industries Development and Renovation Organization.
IMIDRO Seeks $3b Loan From NDFI

Mehdi Karbasian added that with the grant of this loan, the organization will be able to attract up to $9 billion in private sector investment. As reported by IMIDRO’s Public Relations Office, Karbasian believes the mining sector’s growth is closely tied to stimulating demand in the construction sector and boosting consumption of steel, aluminum, cement and iron ore. The NDFI, Iran’s sovereign wealth fund, was created in the 2000s to save up oil revenues to develop Iran and invest overseas for future generations.

source: Financial Tribune
IMIDRO Mining Sector National Development Fund Mehdi Karbasian NDFI
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