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NEW CREDIT LINE

Iran to allocate $11bn for gas pipeline project

TEHRAN, November 15, 2014

The Iranian government will arrange a credit line worth $11 billion to complete the construction of the sixth, ninth and 11th national pipelines in the South Pars gas field, said a report.

The projects will be implemented under the integrated plan for launching the remaining phases of South Pars Gas Field in Bushehr province, which were simultaneously approved by the Economic Council, reported the news agency IRNA.

In addition to a credit line worth more than $29 billion allocated to execute the integrated SP plan, the National Iranian Oil Company is to allocate $6 billion worth of credits to cover costs, including bank interests, contractors' interests and wages, it added.
 




Tags: Iran |

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