(www.irna.ir) вЂ" Iran will provide electricity to Pakistan's deep-sea port in the country's southwestern Balochistan province, an agreement signed here on Wednesday stated.
The state-run Water and Power Development Authority (WAPDA) inked an agreement with the Iranian company Tanvair at WAPDA House under which Pakistan will receive 100 megawatts of power from Iran for its Gwadar Port.
WAPDA member Anwar Khalid and head of the Iranian firm Mendies, Ismail Mohsini, signed the agreement, reports Trend.
Chairman WAPDA Tariq Hameed gave details of the deal in which Iran will supply power to Gwadar Port from January 2009.
The Iranian company will invest USD 26 million and the National Transmission and Dispatch Co WAPDA will provide USD 60 millions for the project which has a total cost of USD 86 million.
He said that tariff for one year has been fixed at 6.25 percent unit. Tariff will be reviewed after one year.
He said that two grid stations of 220kv will be installed, one in Gwadar and another in Iran's Polan area.
WAPDA will lay 100 kilometers while Iran will lay 70 kilometers of the entire transmission line.
Mohsini said that Iran is already providing 35 megawatts of power to Pakistan and will now supply 100 more.