Publishe Date: 2:15 PM - 11/30/2013 | Print

NIGC Needs $6bln for Projects

Economy - National Iranian Gas Company (NIGC) Chief Hamid Reza Araqi said the company needs 6 billion dollars to be able to implement its projects next year.

In statements to Shana, Araqi said the company’s annual turnover stands at 3 trillion rials so the company needs the help of government and parliament to be able to implement its projects.

"NIGC provides natural gas services to 65 million people in urban and rural areas of the country including 95 percent of residents in cities and 56 percent of villages’ inhabitants," he added.

According to NIGC’s chief, indebtedness of some of power stations, industries, petrochemical plants and CNG stations to NIGC in line with payment a part of subsides by NIGC are the main factors that have faced the company with financial bottlenecks.

"By taking new measures it is hoped the company to succeed to provide its needs to liquidity so the company has no special concerns," he added.

"Negotiations with parliament and government are underway for allocating an adequate budget to NIGC for next year," Araqi concluded.


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