Russia, Iran reach power agreement

TEHRAN, Mar. 21 (MNA) – Russia’s Inter RAO – Export LLC has signed an MoU with Iran's Khuzestan Water & Power Authority on participation in power projects in Iran.

The two sides have inked a Memorandum of Understanding (MoU) on the project of expansion of Dez hydropower plant by 720 MW, which involves construction of an additional turbine hall.

Also, the Russian company is to participate in modernization of Ramin thermal power plant based on a Memorandum of Understanding with the Thermal Power Plants Holding Company, a state-run company in Iran.

Under the documents signed, the parties have agreed that Inter RAO – Export will draw up technical and commercial proposals for the projects.

The company will also arrange raising of the debt financing for the customer equal to 85 per cent of the projects’ cost, which complies with the existing international EPC-contracts practice.

Under the pattern, Inter RAO – Export acts as an EPC (engineering, procurement and construction) contractor without investing its own funds.

The 520-MW Dez HPP is located on the Dez River in Iran’s South-Western province of Khuzestan while the 1830-MW Ramin TPP is located in the same province, in the city of Ahvaz, 50 km from the Persian Gulf coast.

Inter RAO — Export LLC is a specialized company within Inter RAO Group established in 2011 in order to develop international engineering business.

 

HA/PR

 

News Code 115344

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