News ID: 134152
Published: 0344 GMT January 02, 2016

$28b power projects up for grabs

$28b power projects up for grabs

Major power projects worth more than $28 billion will be up for foreign investment in the next few years.

Announcing this, Energy Minister Hamid Chitchian said Iran will need to add some 50 MW to its power generation capacity within the next decade and this will call for major investments in the power sector from domestic and foreign financiers, Shana reported.

He also called on private investors to step in and bankroll power generation projects across the country.

"Based on plans, some of the projects, worth nearly $28 billion, will be financed by foreign investors," Chitchian said.

He further said a number of foreign companies have so far indicated their readiness to fund power projects in Iran, adding that talks are underway with several foreign investors in this respect.

The minister also expressed optimism that implementation of the Joint Comprehensive Plan of Action (JCPOA) will hopefully accelerate foreign investments in Iran's power projects.

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