Jun 13, 2021, 1:05 PM
Journalist ID: 1195
News Code: 84364739
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Iran, Russia join forces in building power plants

Tehran, June 13, IRNA – Iran’s Thermal Power Plants Holding Company CEO said on Sunday that construction of the 1400-megawatt power plant in Hormozgan Province, southern Iran, with Russia-provided loan would serve as bridge for expanding bilateral cooperation in this filed.

The implementation of Sirik thermal power plant in Hormozgan Province with the capacity of 1400 megawatts began on June 10 and would be completed in 55 months by Iranian and Russian contractors with the loan provided by Russia, Mohsen Tarztalab said.

He added the Iran and Russia, as neighboring countries, are trying to remove hurdles against upgrading level of economic and trading cooperation, one of its cases being joint construction of power plants.

In a condition that Iran’s electricity industry faces a shortage in financial resources due to sanctions, the CEO said, leveraging different methods of funding is of significant importance.

Tarztalab underlined that using foreign investment is one of the ways foreseen in Iran’s sixth development program for funding power supply projects, including the 25,000 megawatts of electricity provisioned in the program to be added to the country’s power capacity.

Russia has handed Iran 1.2 billion euros in loan, i.e. 85 percent of the fund, for construction of the plants, according to the CEO.

The plant is also expected to provide 30 villages of Sirik Country with fresh water as well as job opportunities for the local people.

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