SAEDNEWS: Ayatollah Seyyed Ali Khamenei approved the National Development Fund’s investment in energy sector.
The CEO of the National Development Fund Mehdi Ghazanfari says Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei has granted permission to invest in the energy sector, including oil, gas, and electricity.
Addressing a meeting of the National Development Fund’s board of directors, Ghazanfari expressed special gratitude to the Leader of the Islamic Revolution for his trust.
This permission not only enhances the National Development Fund charter but also brings it closer to its true role and position, he added.
Ghazanfari stated that the First Vice President has consistently emphasized preserving and elevating the status of the National Development Fund and its resources.
Accordingly, it was decided that the National Development Fund would invest in the emergency plan to increase crude oil production by 250,000 barrels per day, and the construction of 7,000 megawatts of solar power plants, he noted.
He described the Leader’s permission as a conditional investment and emphasized that contracts must be prepared swiftly, with careful attention to the conditions set by the Leader of the Islamic Revolution.
These contracts are expected to be signed in the presence of the First Vice President and the ministers of energy and oil.
Ghazanfari outlined the four key conditions set by the Leader for the energy sector investments as follow:
Any investment project must be economically justified.
The National Development Fund’s resources and profits must be fully recovered.
The National Development Fund must not engage in direct operational management of projects.
The general framework of each project must be approved by the economic council.
