European firm invests $6b in Iran’s power sector

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TEHRAN- An European firm signed a deal with the Iranian Energy Ministry for making $6 billion investment in Iran’s power sector, Iran’s Government Spokesman Mohammad Baqer Nobakht announced in a press conference yesterday.

The official said the European firm will invest the mentioned fund for the construction of four combined-cycle power plants with a total electricity generation capacity of 3520 megawatts and also a wind farm in Iran, the Iranian government’s official website dolat.ir reported.

However, Nobakht did not mention name of the company and its country as well.

It is somehow a huge investment in Iran by a European company in a condition that the Wes-led sanctions have not been still removed against the country, he noted.

Business delegations from around the world have flocked to Iran since the July 14 deal, in which Tehran agreed to curb its nuclear program in exchange for an end to economic sanctions that have hit the country’s economy.

Last October, Iranian President Hassan Rouhani said there is a global surge of interest in new business opportunities in Iran, adding the country is ready to open its arms to international entrepreneurs if they bring in investment and technology.

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