Sputnik News- Last week, Russia and Iran launched the construction of the Sirik 1.4-gigawatt thermal nuclear plan in the city of Bandar Abbas in southern Iran. The opening ceremony was attended by Russian Energy Minister Alexander Novak.

In mid-December 2016 Russian company Technopromexport and an Iranian holding company signed an agreement on�the construction of�a thermal power plant (TPP) in�Iran.

The construction is expected to�take four and a half years. The deal includes four 350-megawatt energy blocks and a desalting facility with�a daily capacity of�200,000 cubic meters.

Funds for construction will be provided within�the framework of�a �1.2 billion ($1.27 billion) export loan extended by�Moscow to�Tehran for�five years.

According to�an agreement signed in�July 2016, Russia is expected to�provide a loan to�fund 85 percent of�the construction costs, while the rest will be provided by�Iran.

According to�Iranian political analyst and commentator Sajjad Tayeri, there is no reason to�be concerned about�the project�s future since�Iran is very confident in�cooperation with�Russia.
"Let�s recall the Bushehr nuclear power plant built by�Russian partners. This project puts mutual confidence to�an unprecedented level," Tayeri told Sputnik Persian.


The expert continued that after�the nuclear deal was reached many European and Asian countries has expressed interest to�work with�Iran.


Iran and the six international mediators reached an agreement on�July 14, 2015 on�the settlement of�the long-term Iranian nuclear problem. The milestone deal was followed by�the removal of�international sanctions against�Tehran.

In 2016, Iran began to�compensate losses in�trade and economic ties, after�years of�sanctions. Foreign investments play the key role in�developing the Iranian economy. According to�estimates obtained by�Sputnik, Tehran will need nearly $500 billion in�the coming five to�seven years.
"Russia pioneered the investment trend because previously it had already had a productive cooperation experience with�Iran. During the period of�sanctions, many countries lost Tehran�s trust. However, Russia supported Iran in�the UN Security Council. Since Moscow and Tehran has developed energy partnership, Moscow was the first to�reach a major deal to�build a thermal power plant in�Iran," Tayeri pointed out.


The expert underscored that the Sirik TPP is not only aimed at�resolving energy problems in�the province of�Hormozgan, but�is also strategically important.


"This is a vivid example for�other partners. Russia wants to�show that it has long been a reliable partner for�Iran and will continue to�be committed to�this cooperation. This is an example for�other countries that obligations should not be violated. We�re seeing now that some of�our partners have changed their rhetoric since�the nuclear deal was signed," he said.

Moreover, Iran-Russia cooperation proves that Tehran is a reliable destination for�investments in�the Middle East, according to�Tayeri.
"This is why if a country wants to�cooperate and places bets on�Iran it will never lose. It could also win political gains from�such cooperation, including boosting ties and mutual trust. In terms of�economic and political cooperation with�Iran, Russia has better prospects than�other countries," he concluded.