17 October 2016 - 14:20
Iran, Guinea ink power deal

TEHRAN, Oct. 17 (MNA) – Iran and Republic of Guinea have signed a Memorandum of Understanding (MoU) to boost cooperation in water, power and energy industries.

The newly-signed agreement between Iran and Guinea-Conakry pertains to construction of power plants and hydroelectric dams.

The MoU was inked between the Iran-Guinea joint venture company and Iran's Power and Water Equipment and Services Export Company (SUNIR) and is expected to pave the path for expansion of power ties with African states.

CEO of SUNIR Bahman Salehi said Iran plans to take part in Africa’s international tenders, run partnership by financing the projects, form national and international consortiums as well as to exploit capabilities of prominent foreign firms to implement African power and energy projects; “containing a population of over 1.2 billion people inside 54 countries and possession of natural resources of oil, gas and water supplies, Africa offers excellent opportunities for running energy sector projects with large international companies in Iran’s water and energy equipment and services industries.”

He estimated the capacity to implement projects in Guinea’s energy sector at five billion dollars which offers a great opportunity for 250 Iranian contractors.

Managing director of the Iran-Guinea joint venture company, while referring to present capacities in Muslim states for running energy projects, said “the MoU will become finalized with government officials of Guinea and more serious activities with major Iranian companies are expected to emerge following the upcoming trip of Guinea’s energy minister to Tehran.”

HA/3797076

News Code 120577

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