Building Materials   Energy Exchange  

Russia to Open LC for Building Power Plant in Iran Soon: Official

The managing director of Iran’s Thermal Power Plants Holding Company (TPPH) said Russia is slated to give the Islamic Republic a loan of €1.2 billion in form of LC (Letter of credit) to construct a major power plant in Iran’s southern city of Sirik.

Speaking to reporters in Tehran on Friday on the sidelines of the 19th Iran International Electricity Exhibition, Mohsen Tarztalab said, “According to what the Russian government has announced to Iran, by the end of November 2019, the Russian government will open a €1.2 billion LC loan for Iran for the construction of the Sirik power plant.”

He added that based on negotiations with Russia, if the LC is not opened by the end of November 2019, the Russian government will change the contractor.

Earlier in September, Iran and Russia signed final documents of a deal which allows Moscow to grant the €1.2-billion loan to Tehran for the construction of Sirik power plant in southern Iran.

The 19th Iran International Electricity Exhibition kicked off in Tehran on Thursday with representatives from 36 countries, including 13 European states, as well as Russia and China, in attendance.

Back in February, Ardakanian highlighted the country’s self-sufficiency in the area of power generation and said the Islamic Republic is the top producer of electricity in the Middle East.

About 90 percent of power generation equipment, even complicated parts like turbines and generators, are currently manufactured inside the country, the energy minister said at the time.

He added that Iran’s capabilities in the area of power generation have developed over the past four decades so much that the country has become the top producer of electricity in the region.

“At present, we have energy exchanges with all the countries that share land borders with us,” he said.

News No: 7104
Date: 2019/11/01 - 17:31
News Source: Tasnim News Agency

Russia  Building  TPPH  Middle East  energy exchange 


Leave a Comment:


TPPH to decommission old power plants

Iran’s Thermal Power Plants Holding Company (TPPH) has started a program for decommissioning worn-out thermal power plants, IRIB reported on Saturday, quoting the company’s head.

Commodities worth $595m traded at IME in a week

During the past Iranian calendar week (ended on Friday), 530,783 tons of commodities valued at $595 million were traded at Iran Mercantile Exchange (IME).

Iran Planning 33mln Ton Steel Production in Current Year

Iran has decided to produce 33 million tons of steel in the current Iranian calendar year (started March 20, 2020), a statistical study said.

Full Chinese tanks pressure methanol sellers

Methanol sellers in Asia and the Middle East are under pressure to cut production rates or face demurrage costs as Chinese storage tanks have no space left.

IRENEX hosts 5 offerings of gas condensate, fuel oil in 50 days

Since the start of the current Iranian calendar year (March 20), Iran Energy Exchange (IRENEX) has held two offerings of gas condensate and three offerings of Mazut (fuel oil) at its international ring, National Iranian Oil Company (NIOC)’s representative in IRENEX announced.

India warns on chemical restarts after LG Polymers leak

The Indian government has warned all chemical plants to take precautionary measures while resuming operations following yesterday's fatal leak at the LG Polymers India (LGPI) plant, potentially complicating restarts as the country's Covid-19 lockdown eases.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners