Iranian holding company MAPNA Group signed an agreement with the Syrian government to construct a combined-cycle power plant with a capacity to produce 540 megawatts (MW) of electricity in the Arab country’s western province of Latakia.
The agreements was signed during a meeting between Iranian Energy Minister Reza Ardakanian and Syrian Electricity Minister Mohammad Zuhair Kharboutli.
The project is worth 411 million euros and the MAPNA plans to start the construction in early next year.
Back in May, Syrian Prime Minister Imad Khamis said Damascus is ready to facilitate the Iranian participation in the reconstruction process of the war-hit country.
Syria has been gripped by civil war since March 2011 with various terrorist groups, including Daesh (also known as ISIS or ISIL), fighting against its central government.
In the meantime, Iran has remained a close ally of Syria and supported its legitimate government in the face of foreign-backed militancy.
Armenian Ambassador to Tehran Artashes Tumanyan said that his country is after importing more gas from Iran, voicing Yerevan’s readiness to increase electricity export to Iran.
A deputy minister dismissed speculation about the Iranian administration’s engagement in construction plans in Syria, saying Iran’s private sector is scheduled to undertake such projects.
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Deputy Head of Iran Electricity Industry Syndicate Payam Baqeri underlined that Iraq is in dire need of large power supplies, specially during Summertime, and cannot replace Iran with Saudi Arabia for satiating its power needs.
Iran’s Ambassador to Iraq Iraj Masjedi and Iraqi Electricity Minister Luay al-Khateeb held talks on a range of issues, including ways to boost bilateral relations between the two neighboring countries in various areas.
Tehran Stock Exchange’s main index lost 130.70 points or 0.13% to end Wednesday trade at 96,860.3.