Moscow, Tehran discuss $10bn power deal: Russian minister

Russian Energy Minister Alexander Novak

Russian Energy Minister Alexander Novak says Tehran and Moscow are negotiating to sign a deal worth USD 10 billion in the power sector.

“We recently discussed, with the Iranian energy minister (Hamid Chitchian), a whole package of projects worth nearly USD 10 billion which could be carried out in electricity. These are for the construction of thermal power plants, the involvement of Russian companies in equipment supplies and the renovation of supply networks,” Novak said on the sidelines of the St Petersburg International Economic Forum on Saturday, Interfax news agency reported.

“Our companies are hard at work on the specific terms of the contracts,” the Russian energy minister stated, adding that the next session of an intergovernmental commission would be held in the Iranian capital, Tehran, in September.

Novak said Iran plans to develop cooperation with Russia in the nuclear power sector as well.

Moscow plans to sign an agreement with Tehran this year to construct up to eight new nuclear reactors in Iran.

“Russia and Iran may sign an intergovernmental agreement this year on building from four to eight nuclear reactors, and, under the deal, the contract for the construction of the first two reactors as additions to Bushehr [nuclear power plant],” a source informed of the contract’s negotiation process told Reuters on May 22.

The source added that negotiations on the agreement are at the final stage, noting that two reactors could be constructed at the Bushehr power plant and six others will be built at other nuclear sites across Iran.

By Fars News Agency


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