Energy, labor ministries team up for $4.5b job creation plans

November 3, 2019 - 19:59

TEHRAN – The Ministry of Energy and the Ministry of Cooperatives, Labor, and Social Welfare have signed a memorandum of understanding (MOU) for implementing projects worth 192.81 trillion rials (about $4.59 billion) aimed to create 23,600 job opportunities across the country.

The MOU was signed by Energy Minister Reza Ardakanian and Cooperatives, Labor and Social Welfare Minister Mohammad Shariatmadari on Saturday, IRIB reported.

As reported by the news portal of the energy ministry (Paven), the projects will be carried out in cooperation with Tose'e Ta'avon Bank and Water and Wastewater Engineering Company as representatives of the two ministries.

The projects are mainly focused on water and electricity management.

Under the MOU, the National Development Fund will provide 9.5 trillion rials (about $226 million) of the needed fund for the projects and the rest will be provided by Tose'e Ta'avon Bank.

The signing of the mentioned MOU marks the beginning of a mutual collaboration between the two ministries for increasing employment in the country with a focus on the issue of water management.

Speaking on the sidelines of the signing ceremony, Ardakanian emphasized the importance of management in water and energy sectors, saying “Our country needs to pay more and more attention to both utility and consumption management in the water and energy industries.”

“According to the MOU, signed today, besides directing employment, bank resources are also being used in the right way to boost production and to contribute greatly to the management of water utility and consumption,” he said.


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