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Turkish energy company Unit International has reached a US$4.2bn deal with Iran’s energy ministry to build seven natural gas power plants in the country
Construction of the seven plants is planned to begin in the Q1 2017.
According to Reuters, the power stations, to be built in seven separate regions of Iran, will have a combined installed capacity of 6,020MW.
Unal Aysal, head of Unit International, said that the company has signed a 20-year contract with Iran Energy Ministry.
“Iran will supply natural gas to us for 20 years and we will sell the electricity for six years with agreed price. This deal is a pioneer agreement regarding expansion of Iran’s market to foreign capital.”
When completed, the power plants would meet 10 per cent of the country’s energy needs, Aysal said.
The USA, European Union and United Nations lifted most sanctions on Iran in January this year under a deal with world powers whereby Tehran agreed to curbs on its nuclear programme.