Tehran: The CEO of the National Development Fund, Mehdi Ghazanfari, announced that the Leader of the Islamic Revolution, Ayatollah Seyyed Ali Khamenei, has granted permission for investment in the energy sector, encompassing oil, gas, and electricity.

According to Islamic Republic News Agency, Ghazanfari, during a meeting with the board of directors of the National Development Fund, expressed gratitude to the Leader of the Islamic Revolution for his trust in approving this investment. This move not only strengthens the National Development Fund’s charter but also aligns it more closely with its intended role and status, as emphasized by Ghazanfari.

Ghazanfari highlighted that the First Vice President has been a consistent advocate for preserving and enhancing the National Development Fund’s stature and resources. As a result, the decision was made for the Fund to invest in an emergency plan aimed at increasing crude oil production by 250,000 barrels per day and constructing 7,000 megawatts of solar power plants.

He referred to the Leader’s approval as a conditional investment, stressing the importance of preparing contracts swiftly while adhering to the conditions stipulated by the Leader. These contracts are set to be signed in the presence of the First Vice President and the ministers of energy and oil.

Ghazanfari also detailed the four key conditions stipulated by the Leader for these investments: economic justification for any project, full recovery of the Fund’s resources and profits, the Fund’s non-engagement in direct operational management of projects, and the necessity for each project’s general framework to receive approval from the economic council.