Iran Economy NewsChina to build $2 billion Iran dam, power plant,...

China to build $2 billion Iran dam, power plant, Press TV says

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Bloomberg: Iranian and Chinese officials will sign a $2 billion agreement for the construction of a dam and a power plant in Iran’s western province of Lorestan, Press TV reported.

Bloomberg

By Ladane Nasseri

Iranian and Chinese officials will sign a $2 billion agreement for the construction of a dam and a power plant in Iran’s western province of Lorestan, Press TV reported.

The agreement will be signed between Sinohydro Corp., China’s largest water projects developer, and Iran’s Farab, the state-run news channel said, citing Mohammad Reza Rezazadeh, the managing director of Iran’s Water and Power Resources Development Co.

The contract will be completed this week and operations are to start in the next Iranian calendar year, which starts on March 21, according to the report, published on Press TV’s website today.

The dam, to be built on the Bakhtiari river in the Zagros mountains, will hold Iran’s largest reservoir, with a capacity of 4.8 billion cubic meters of water, and support a 1,500- megawatt hydroelectric power station, it said.

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