IDRO Invests 5,000b Rials Via Capital Assets Ownership Plans
Deputy Industry, Mine and Trade Minister and head of Industrial Development and Renovation Organization (IDRO) says the organization invested over 5,000b rials in three mega industries in the country in last year’s fiscal year which were financed through capital assets ownership plans.
Speaking at the general meeting of capital assets ownership plans of IDRO, Mr. Mohammad Baqer Aali said the credits for the projects were earmarked in form of trilogy participation agreements participation in the projects with priorities on the deprived areas, developing export-oriented production complexes in the shores of Jask to Gwadar and water supply to Garmsar Special Economic Zone and called them good examples for convergence with Ministry of Economic Affairs and Finance and Plan and Budget Organization. He added that on the whole, those 13 different plans would create almost 7800 direct jobs.
Emphasizing the role of IDRO as the first developmental organization of the country in the current economic war condition and the organization’s efforts in line with pick-up in the production, Mr. Aali said, “To implement industrial projects, IDRO has put on its agenda using all methods for financing either domestic or foreign resources, credits of capital assets ownership plans, attracting private sector investment and novel methods of financing of the projects.
During the general meeting of IDRO in presence of officials of the organization and deputy minister of economic affairs and finance, the report of budget on the performance of capital assets ownership of the organization was confirmed and approved.