Iran to issue $4.2b worth bonds for gas projectsJune 26, 2012 - 11:20 AMT PanARMENIAN.Net - Iran's Pars Oil and Gas Co (POGC) plans to issue rial- and U.S. dollar-denominated bonds worth 52 trillion rials ($4.2 billion) by March 2013 to accelerate implementation of South Pars projects, according to Fars News Agency. The development of Iran's South Pars gas field needs huge investment, minister of petroleum Rostam Qassemi said in an address to the Iranian parliament. POGC's financial manager Toraj Jahan Ara said that there would be $1 billion of dollar-denominated bonds, with the rest rial-denominated. The bonds will be issued in three phases; Bank Mellat would begin offering 5 trillion rials of rial-denominated bonds this week. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |