Iran Launches 120 Projects Across 28 Provinces in Defense and Energy Sectors
Iran's Ministry of Defense inaugurated 120 projects across 28 provinces, focusing on defense and energy sectors, with a total investment exceeding 622 trillion rials. The initiative includes 55 defense-related projects and various non-defense initiatives in water, electricity, oil, gas, and food security, aimed at saving approximately 1.2 billion euros annually in foreign currency. The projects, supported by nearly 9,000 companies, are financed through citizen investment and banking facilities.
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The Iranian Ministry of Defense and Armed Forces inaugurated 120 projects in 28 provinces on Tuesday, covering sectors such as defense, oil, gas, petrochemicals, housing, energy, iron, and food security. The ceremony was attended by Iranian President Masoud Pezeshkian.
Among the projects, 55 are defense-related, with investments exceeding 222 thousand billion rials and participation from nearly 9,000 companies. Non-defense initiatives include 10 in water and electricity, 7 in oil and gas, 4 in minerals and industries, and 32 in food and pharmaceuticals, along with a housing project for security forces.
Total investments for non-defense projects surpassed 400 thousand billion rials. The projects are financed through citizen investment, banking facilities, and armed forces personnel, expected to save around 1.2 billion euros annually in foreign currency and boost non-oil exports.
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