Mobile manufacturers’ 250b-rial loan shelved

“No fund has been available in that regard, and it seems the issue has been put aside,” Hamid-Reza Monji told Irans mobile news agency (Mobna).
“That mainly stems from the banks’ reluctance to issue loans in the present circumstances,” he said.
Emad Semiconductors is among companies which signed a contract two years ago with the Ministry of Industries and Mines to manufacture 2 million mobile sets annually.
The company, which distributes Hyundai mobile sets in the country, has not been able to fulfill its contract, however.
The president of mobile set manufacturers union, Ahmad Rozati, however, believes the project has not been stopped but proceeds slowly, and they are awaiting the implementation of a government decree signed last November on the issue to seek the required fund.

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