The National Development Fund of Iran (NDFI) has a new strategy that shows its investment in projects over and above $100 million will be in the form of partnership, a fund official said.
"The fund's priority now is to invest in refineries that produce high-value goods and can complete the petrochemical chain, build infrastructure such as docks and ships and are industry water and electricity suppliers," Alireza Mir Mohammad Sadeghi, the banking and credit deputy of NDFI said.
NDFI will continue financing projects worth below $100m, the official noted. "The fund's investments should contribute to the development of infrastructure complete the petrochemical chain and produce high-value goods."
He noted the NDFI invested nearly $35.7 billion in industries since 2012. Almost 63% of this amount or $22.7 billion was allocated only for the oil and gas industry. Close to $11 billion went into the upstream oil sector, $9 billion in the gas industry, and $2.7 billion in petrochemical units.