Foreign companies set to invest $4.2B in Iran’s power plants

Iran has signed an investment agreement with a group of foreign companies for developing its energy sector, an Iranian government official said.
Government spokesman Mohammad Bagher Nobakht said Iran signed a new contract with a group of foreign companies to attract $4.2 billion worth direct investments for building power plants in the country, ISNA news agency reported.
Nobakht said the contract envisages building several power plants with a total capacity of 5,000 megawatts (MW).
The power plants are projected to be built in the cities of Ahvaz, Dehloran, Zahedan, Saveh, Sufian and Bonab.
The report did not provide further information about foreign investors, but said a Turkey-based European company is also involved in the project.
Nobakht, saying that with the new contract the volume of direct investments made by foreigners in Iran increases, added that the value of investment contracts signed earlier between Iran and foreigners amount to $3.418 billion.
Iran’s power generation capacity currently stands at around 74,000 MW, of that some 12,000 MW account for hydroelectric power plants, 1,000 MW for a nuclear power plant and the remaining for thermal power plants.

Source: Trend