TEHRAN (FNA)- The government plans to print nine billion euros of bonds to finance oil industry projects in the next Iranian year (starting on March 21, 2014).


According to the draft budget submitted to parliament for approval on Sunday, the government allows Petroleum Ministry to issue nine billion euros in bonds, including five billion euros by National Iranian Oil Company.

The issuance of these bonds depends on drafting a report justifying the technical, economic, social, environmental and civil defense aspects of projects.

In total, the government plans 12.5 billion euros worth of bonds.

By Fars News Agency

 

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