Barriers to Financing Semi-Completed Rail / “Oil” Projects Guarantee Profitability of Projects Instead of Direct Purification

‌According to the economic correspondent of Fars News Agency, on Sunday, December 12 of this year, Mohammad Mehdi Mofteh, the spokesman of the Program, Budget and Accounts Commission of the Islamic Consultative Assembly, announced the approval of the plan to implement railway projects by oil purification in this commission and announced: The plan allows the government to deliver up to 1 million barrels of crude oil per day to contractors in areas defined by law through subsidiaries of the Ministry of Oil; Under the plan, contractors will receive crude oil instead of funding and sell it on the market in exchange for their actions.

A spokesman for the Program and Budget Commission had previously said about the plan: “Suggestions were made in the plan, including providing 14.5 percent of the oil company or the National Development Fund through other oil sales so that the government can supply the necessary crude oil.” To the contractors, it was finally decided to modify and rewrite the plan.

It is expected that with the implementation of this plan, we will see a new way to implement development projects in the country, so that in oppressive sanctions, important and executive projects can be implemented through the refining of crude oil.

* Mirkazemi: لازم There are no necessary resources to support this volume of development projects in the country

However, some time ago, Seyyed Massoud Mirkazemi, the head of the country’s program and budget organization, had announced at a meeting of the Interaction Council of the Coordination Council of Technical, Engineering and Professional Organizations: Nowhere in the world is the government doing everything, so Promote the participation and cooperation of the private sector in construction projects.

According to Mirkazemi, the trend in the past years has been such that today there are no resources to support this volume of development projects, current costs have gradually increased and due to rising inflation, construction credits have inevitably decreased.

* 81 thousand billion tomans of credit needed to complete infrastructure projects

‌ In the budget bill of 1399, 54 railway development development plans have been considered, the amount of credit required for their completion is estimated at 81 thousand billion Tomans. The total construction budget considered in the budget budget of 1399 was only 88 thousand billion Tomans. A significant part of it is related to non-rail projects.

* It will take 20 years to complete 54 semi-finished railway projects with government funding

Therefore, with the current approach of financing railway projects from limited government budgets, the completion of the above-mentioned 54 railway projects, in optimism Most The mode will take 20 years.

* Use oil instead of purity with contractors as a guarantee of investment in the project public company

However, experts believe that simply creating a mechanism for refining oil through rail projects can not help untie the financing knot in infrastructure projects.

In this regard, Mohammad Javad شاهجویی“It is a good thing that the 13th government and the Islamic Consultative Assembly have realized the need to complete the semi-finished projects as soon as possible and are looking for a solution to finance these projects,” said a transport economics expert in an interview with Fars News Agency. , But delivering oil to contractors in exchange for completing projects may not be appropriateMost Consider a solution to this challenge.

* Is oil purification the first priority?

Referring to the inability of contractors to sell oil to complete projects, he said: To complete the country’s semi-finished rail projects, it is necessary to sell more than 36 million barrels of oil, first it must be seen whether the contractors of railway projects are able to sell this volume of Whether they have oil in the current situation or not; Secondly, can oil purification be considered as a solution to the problem? Or that this is a priorityدار‌ترین Is it an executive method?

The transportation economics expert added: “More diverse and better models.”More daily To complete the infrastructure projects that have not yet been implemented in Iran, most importantly, practicalMost And at the same time profitableMost The method for extensive and sustainable financing of all infrastructure projects in the country is the implementation of the method of establishing project-based public joint stock companies, which in addition to completing infrastructure projects as soon as possible, does not have the disadvantages of oil purification.

* Oil instead of direct purification, oil to guarantee the profitability of infrastructure projects

شاهجویی He emphasized: in a situation where the budget deficit does not allow the financing of such projects with the state budget and other methods of financing are practically impossible due to events such as sanctions and special conditions of the country’s economy, the establishment of project-based public joint stock companies to complete the project. Infrastructure can be a better option to solve the challenge of such projects.

He continued: “In addition, this tool will help guide the country’s liquidity by involving small and large public investments in national productive projects.”

The transport economist suggested that since the prerequisite for the proper implementation of this financing model is the existence of an investment guaranteeing institution, the existing oil could be given to the National Development Fund as an institution instead of direct oil purification with project contractors. The guarantor of the company contracted the created projects so that the National Development Fund could guarantee the principal and the guaranteed return on investment of the projects in the company to the people.

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