Iran, Turkish Firms to Ink $3bln Power Plant Deal: Report
TEHRAN (Tasnim) – Turkish private companies are expected to sign a $3 billion investment deal with Tehran on building a 5,000 megawatt power plant in Iran, a report said.
"In the coming days we will sign an investment deal with Turkish private sector companies for the construction of a 5,000 megawatt power plant in Iran. The size of this deal is $3 billion," Turkey's Hurriyet newspaper quoted Hooshang Falahatiyan, an Iranian deputy energy minister, as saying on Tuesday.
"We have other agreements with Turks but they have not been finalized and talks are continuing," he added.
Falahatiyan further said Iranian power trade with Turkey would also increase.
Back in April, Iran and Turkey signed eight memorandums of understanding (MoUs) to strengthen bilateral cooperation in various areas.
The cooperation documents were signed in a ceremony in Ankara on April 16, attended by Iranian President Hassan Rouhani and his Turkish counterpart Recep Tayyib Erdogan.
The documents covered a range of fields, including higher education, social security, plant maintenance services and standardization.
Iran and Turkey have ramped up efforts in recent months to boost bilateral trade after implementation of the Joint Comprehensive Plan of Action (JCPOA), a lasting nuclear deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany).
The deal took effect on January 16, terminating all nuclear-related sanctions on Iran.
