Baku, Azerbaijan, Sept. 9
By Khalid Kazimov -- Trend:
The Iranian Ministry of Energy is going to form joint companies with South Korea's Hyundai in order to act in the regional power market, Deputy Minister of Energy Alireza Daemi said.
Speaking after a meeting with Hyundai officials, Daemi said the Korean company has high capabilities in carrying out projects in the power production and transmission fields and can be a good partner for Iran, the Energy Ministry reported Sept. 9.
Daemi said Iranian companies have the ability to carry out projects related to power production and transmission in neighboring countries.
He pointed out Hyundai is going to cooperate with Iranian companies that produce gas turbines for power plants. Iran needs technology to streamline its power production facilities and Hyundai has the expertise to help Iran save on energy, he said.
Iran used 1,271 billion cubic feet of gas, as well as 28 billion liters of gas oil and fuel oil for power generation last Iranian fiscal year, which ended on March 20, 2014.
The official pointed out that Hyundai would be operating as the secondary party overseen by Iranian companies.
A group of senior managers of Hyundai met in Tehran with their counterparts in Sunir (Iran Power and Water Equipment and Service Exports Company), announcing readiness to launch joint ventures in the regional countries Sept. 7.
Edited by CN