Iranian holding company MAPNA Group signed an agreement with the Syrian government to construct a combined-cycle power plant with a capacity to produce 540 megawatts (MW) of electricity in the Arab country’s western province of Latakia.
The agreements was signed during a meeting between Iranian Energy Minister Reza Ardakanian and Syrian Electricity Minister Mohammad Zuhair Kharboutli.
The project is worth 411 million euros and the MAPNA plans to start the construction in early next year.
Back in May, Syrian Prime Minister Imad Khamis said Damascus is ready to facilitate the Iranian participation in the reconstruction process of the war-hit country.
Syria has been gripped by civil war since March 2011 with various terrorist groups, including Daesh (also known as ISIS or ISIL), fighting against its central government.
In the meantime, Iran has remained a close ally of Syria and supported its legitimate government in the face of foreign-backed militancy.
As per industry sources report to SteelMint, Pakistan’s Government has indicated a hike in electricity tariffs by upto around 25% over the next few months period.
Tehran and Damascus are planning to reduce the current 4% customs duties to zero in the near future, Syrian Charge de Affairs to Iran Ali Seyyed Ahmad said, inviting Iranian firms and investors to take part in the Arab country’s reconstruction.
A senior Syrian economic official underlined Iran's big role in reconstruction efforts in his country, saying that Tehran and Damascus have held a series of meetings to confront the US sanctions.
Iranian Energy Minister Reza Ardakanian said that Tehran and Baku are discussing ways to boost cooperation in the energy sector, highlighting that Azerbaijan will serve as a link to connect Iran’s electricity grid with Russia and Georgia.
Iranian Energy Minister Reza Ardakanian highlighted the neighboring countries’ willingness to import electricity from the Islamic Republic and said they cannot find a better option.
The Indian government is stepping up efforts to guarantee electricity supplies to all households ahead of national elections, but actual coverage may fall short of the stated goals.