Participation of 9 Banks in Financing the Persian Gulf Water Transfer Project
The national project for desalination and transferring water from the Persian Gulf to the central and desert provinces of the country is being executed with a budget of over 18 trillion rials, involving the participation of 9 banks in a consortium, and is scheduled to be completed in 2019.
According to the news network, during a meeting attended by the CEOs of the banks in this consortium and the head of the Economic Commission of the Parliament at the National Bank of Iran, the latest status of this national project was reviewed.
Mohammad Reza Hosseinzadeh, CEO of the National Bank of Iran, stated in the meeting that while some overlook the services of the banking system, the banking network has always stood by the people in difficult times and has helped the country in all circumstances.
He added that now, as the country faces a water crisis, we must think of children and future generations; thus, the banking network actively participates in the national project of desalination and transferring water from the Persian Gulf to industries in the southeast of the country.
Hosseinzadeh emphasized that with the increased participation of state banks, a consortium led by the National Bank of Iran has been formed to construct large desalination stations in Hormozgan province and transfer desalinated water from the Persian Gulf to the desert and central provinces, addressing concerns about the lack of fresh water in these areas.
The CEO of the National Bank of Iran stated that the cooperation and participation of state and semi-private banks in this project are excellent. Due to the efforts made, this project is at the stage of contract signing and payment processes will soon begin.
He mentioned that the banks’ participation in this project amounts to 18 trillion rials and that the project is scheduled to be completed in 2019.
The head of the Economic Commission and representative of Kerman in the Parliament also stated that this project is a successful example of the banking system’s support for the private sector in large national projects.
Mohammad Reza Pourabrahimi emphasized that as the country faces a water crisis, the efforts of the country’s banking network in addressing this issue and participating in this massive national project are commendable.
He added that if we want to improve the country’s economic status and witness significant developments in industries, we must strengthen the position of the banking system.
Pourabrahimi referred to the National Bank of Iran as the largest state bank and a capable supporter of large national projects, expressing gratitude for the cooperation and participation of state and semi-private banks in this initiative.
According to IRNA, a consortium has been formed for the implementation of this project, involving many state banks, with the National Bank of Iran acting as the lead. This consortium will participate in the large national project, constructing large desalination stations in Hormozgan province and transferring desalinated water from the Persian Gulf to the desert and central provinces.
The participating banks in this project include the National Bank, Sepah Bank, Agricultural Bank, Mellat Bank, Industry and Mine Bank, Export Bank, Refah Bank, Trade Bank, and Cooperative Development Bank.
This project aims to transfer, supply, and desalinate 130 million cubic meters of water annually through a 900-kilometer pipeline, passing through Hormozgan, Kerman, and Yazd provinces, to meet the water needs of companies such as Sar-Cheshmeh Copper Complex, Gol Gohar Sirjan, and Chadormalu, as well as to supply drinking water for these areas.
The Asia Water Development Engineering Company is responsible for the desalination aspect, while the Persian Gulf Water Supply and Transfer Company is in charge of the transfer project.
