Turkey awaits Iran okay for huge power deal

Iran and Turkey’s Unit International have concluded negotiations on $3 billion of investment to build 5,000 megawatts of power capacity, awaiting the government’s go-ahead in Tehran to seal the deal.

The Belgium-based energy firm’s chairman Unal Aysal on Monday met Iran’s Energy Minister Hamid Chitchian in Tehran where they agreed on the terms of the contract, the Fars news agency reported on Tuesday.   

“At the moment, the signing of the final agreement awaits the Ministry of Energy’s go-ahead,” head of Thermal Power Plants Holding Company of Iran Mohsen Tarztalab said.

The official said the ministry has got to do the paperwork and issue necessary licenses for the signing which he saw “unlikely within the current week,” Fars said.

“The contract is being prepared to be sent to the Ministry of Energy. If it is accepted, the ministry will announce it for necessary measures to be taken,” Tarztalab said.

The Turkish energy company signed an initial deal with Iranian Energy Minister in June to build seven natural gas combined cycle power plants in Iran.

Construction of the plants is planned to begin in the first quarter of 2017, the company has said. When completed, the facilities would meet 10 percent of Iran's energy needs.

The power plants will be built in the cities of Ahvaz, Dehloran, Zahedan, Saveh, Sufian and Bonab.

SS