Iran has confirmed that Russia will invest $83.58 million in Sirik power plant based in southern Iran.
Director of (Thermal Power Plants Holding Company) TPPH Steam Power Plant Projects Behnam Khaefi-Nejad told the local media that Sirik power plant needed the amount to continue its operations in 2022.
After discussions, the Russian Ministry of Finance agreed to invest in the 1400-megawatt (MW) gas-powered plant. The construction of the power plant began in June 2021.
Behnam Khaefi noted the Russian government accepted to invest 6.2 billion euros ($7.10billion) in the project.
The first phase of the project will come into operation in spring 2025, he said.
The Russian Company Technopromexport has signed an agreement to invest up to 1.2 billion euros ($1.37 billion) in the Sirik power plant.
The power plant is scheduled to consist of four units with a capacity of 350 MW in each unit.
The first round of negotiations to construct the power plant started in 2017, but the construction operation began concurrent with opening of LC in June 2021.
Some seven Iranian companies are working in the project, employing 250 manpower directly and indirectly.
In recent meeting between Russian and Iranian economic ministers in Moscow, both sides reviewed current condition of joint projects.
This includes Russia’s $5 billion investment in Iran that is expected to expand bilateral economic exchanges.
Iran’s Minister of Finance and Economic Affairs Ehsan Khandouzi emphasized the need for speeding up construction of Sirik power plant, Garmsar-Inche Borun railway as well as three projects that were signed by the former Iranian economic minister and his Russian counterpart.