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Iran predicts $ 260 billion investment in gas industry
Iran-Regional, Economics, 2/4/2007
Iran's Deputy Oil Minister Reza Kasaeizadeh said yesterday that $ 260 billion investment has been predicted in the gas industry in the 20-Year Development Vision Plan (2005-2025).
Kasaeizadeh, who is also the Managing Director of National Iranian Gas Company, added that the figure includes $ 120 billion investment in downstream industries and a $ 140 billion in upstream industries.
He said currently 24,000 kilometers high-pressure pipelines distribute gas across the country.
He added that it has been planned to invest 5.8 billion $ in gas industry for the next Iranian year (to start on March 21, 2007).
The official stated that use of natural gas would have economic and environmental advantages and expressed hope the move would be materialized based on the government's policies and the 20-Year Development Vision Plan.
"We intend to turn Iran into a developed country in the region in economic, scientific and technical fields by fiscal year of 1404 (2025)," Kasaeizadeh said.
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