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Iran eyes investing $12B in water projects

Business Materials 15 July 2016 11:25 (UTC +04:00)
Iran plans to invest at least $12 billion in its sewage and water systems, Iranian Energy Minister Hamid Chitchian has said.
Iran eyes investing $12B in water projects

Baku, Azerbaijan, July 14

By Khalid Kazimov – Trend:

Iran plans to invest at least $12 billion in its sewage and water systems, Iranian Energy Minister Hamid Chitchian has said.

Addressing a number of representatives of British companies involved in water and sewage projects in the UK, Chitchian said the investment is planned to take place over the next five years, IRNA news agency reported July 14.

Chitchian is in London in a bid to establish cooperation between Iranian and UK companies on energy and water.

Highlighting the need for developing smart grid water systems in Iran, the minister called on the British companies to invest in water projects in his country.

Elaborating on water management projects in Iran, Chitchian further said the country has already constructed 160 large dams, which are now operating, and 90 more dams are under construction.

The Iranian minister’s UK visit took place one year after the nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), was sealed between Tehran and the world’s major powers.

As a result of the implementation of the JCPOA, the nuclear-related sanctions on the Islamic Republic were lifted.

Many in Iran and around the world expected that the implementation of the JCPOA would give a huge boost to the country’s economy after almost a decade of isolation from the global economy.

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