Baku, Azerbaijan, June 8
By Fatih Karimov - Trend:
Germany's engineering giant Siemens will finance the construction of a power plant near Iran's capital city of Tehran.
Iran and Siemens will sign an agreement in the near future on financing the first phase of the Jalal power plant project, said Mohammad Reza Ayatollahi, deputy head of Iran's Andoukhteh Shahed Institute, SHANA news agency reported June 8.
He said that during the recent visit of an Iranian trade delegation to European countries, talks were held with the German company on the issue.
Ayatollahi added that some 330-350 million euros of investments are needed for construction of the Jalal power plant's first phase.
The Andoukhteh Shahed Institute is the major shareholder of Iran's Shahed Company, which was founded in 1985.
Earlier in March, the Iranian industrial group MAPNA and Siemens signed a memorandum of understandings (MOU) to strengthen their cooperation in order to modernize the energy infrastructure in Iran.
The deal includes buying the technology to produce the class F turbines of Siemens with the trade name of SGT5-4000F, as well as delivering the F class gas turbines and generators for the Bandar Abbas power plant in southern Iran.