Iran, Russia Mulling $10bln Deal in Power Sector

Alexander Novak, Russia’s Energy Minister, said the two countries have been negotiating to sign an agreement on a package of energy projects worth USD 10 billion.

He said the package of projects includes construction of hydroelectric power plants, participation of Russian firms in supplying equipment and renovating Iran’s power supply network, Interfax news agency reported.

Novak added that the next round of talks between Iran and Russia to finalize the deal will be held in Tehran in September.

He further noted that Tehran seeks to expand cooperation with Moscow in the field of nuclear power generation.

It was reported earlier this week that Russia plans to sign a contract with Iran this year to build two more nuclear reactors at its Bushehr power plant as part of a broader deal for constructing up to eight reactors in the country.