Novak says Iran asked Russia for $2bn loan for power plants, railroads

TEHRAN, Nov. 24 (MNA) – Russian Energy Minister Alexander Novak said on Saturday that Iran has asked Russia to provide an additional $2 billion loan for some construction projects.

The projects include the construction of thermal power plants, hydroelectric power plants, railroads and subway carriages, according to Russian Energy Minister Alexander Novak.

“They’re asking for about $2 billion... They say they were promised $5 billion in 2015... We had loans allocated to them, they ask us to bring the total amount up to $5 billion,” Reuters quoted Novak as saying.

Meanwhile, Iran’s Minister of Energy Reza Ardakanian has recently traveled to Moscow as head of Iran-Russia joint economic cooperation commission to operationalize Russia’s $5 billion loan which was agreed to be granted to Iran for joint infrastructure projects in October 2015.

He said that the loan will be used for construction activities of two projects, including Sirik Power Plant which is located on the Persian Gulf coast and a major railway project linking Incheboron, in the northeast, to Garmsar, located to the southeast of the capital Tehran.

The Iranian parliament has also extended a license allowing the government to receive a total of $5 billion loan from Russia for infrastructure projects.

MNA/PR

News Code 152633

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