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Iran, Russia in talks to finalize $10B power contract

Business Materials 22 June 2015 12:18 (UTC +04:00)

Tehran, Iran, June 22

By Mehdi Sepahvand - Trend:

Iran and Russia have started a new round of talks to finalize a last-year agreement in the energy sector.

In the past few weeks, a number of Russian expert delegations have visited Tehran and expert talks are underway, said Houshang Falahatian, Iranian deputy minister of energy, Mehr news agency reported June 22.

Last year Iran and Russia signed an agreement where Iran would import 500 MWs of electricity from Russia.

Russia Minister of Energy Alexander Novak had said on the sidelines of signing the contract then that the contract amounted to eight to $10 billion and covered projects such as building thermal power plants, hydroelectric power plants, power grids, improving power grid performance, as well as export of power to Iran.

Falahatian said in order to carry out the agreement synchronizations are needed with Azerbaijan, Armenia and Georgia. He also said talks with the involved countries are being held to cooperate on the synchronization process.

The Iranian official pointed out that a time has not yet been settled for starting the import.

Iran has already reached agreement with Russia on building two new nuclear power plants.

Edited by CN

Follow the author on Twitter @mehdisepahvand

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