German Siemens Company to Finance Construction of Major Power Plant in Iran

Date: 08 June 2016 - 20:02

News ID: ۲۷۵۴۱

TEHRAN (FNA) - Iran and the German equipment manufacturer, Siemens, have reached an agreement to build a big new power plant in Northern Tehran.
According to the Iranian officials, the agreement was made during negotiations by Iran's economic delegation in visits to Poland, Finland, Sweden and Latvia, Deputy Head of Andoukhteh Shahed Institute's Board of Directors Seyed Mohammad Reza Ayatollahi said on Wednesday.
"The agreement for cooperation with Siemens will be inked soon," he added, noting that the German company will finance the big power plant in Damavand city.
Ayatollahi said that the money needed for building the first phase of Jalal power plant is estimated at 330mln to 350mln euros.
After the nuclear deal between Tehran and the world powers, the Germany and other European companies have voiced interest in activities in Iran.
In a relevant development in March, the Iranian industrial group MAPNA and the German equipment manufacturer, Siemens, signed a contract worth $3.5bln, a trade official announced.
Elaborating on a recent visit by a high-ranking Iranian economic delegation, headed by Energy Minister Hamid Chitchian, to Berlin, Deputy Head of Iran's Chamber of Commerce Pedram Soltani said several German companies have shown interest in cooperation and investment in Iran.
"A contract was endorsed between the Siemens and MAPNA companies worth $3.5bln," he added.
Soltani said in addition to negotiations with different German firms, Tehran is also in serious talks with the Bosch company to produce home appliances in Iran.