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Iran to issue $1 billion in bonds for energy sector

Bond issue will finance new power plants and work on existing plants.

February 27, 2010 10:47 by

Iran has announced plans to issue $1 billion in bonds to develop its natural resources, according to government sources.

The Managing Director of the National Iranian Oil Company (NIOC) said the bond sale proceeds will fund the development of the South Pars field, reported the official agency Press TV.

Seifollah Jashnsaz said the bonds are expected to be issued in the “coming days” since Iran’s Finance Ministry and the Central Bank of Iran finally reached an agreement on the proposal.

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