Russia, Iran Sign Add-On Deal for Power Plant

The Russian and Iranian sides have signed a supplementary agreement to guarantee the construction project of thermal power plant Sirik in the southern Iranian province of Hormozgan, the Russian Energy Ministry said.
General Director of Russian Energy Agency Anatoly Tikhonov headed the Russian delegation in negotiations with Iran's economy minister and co-chairman of intergovernmental Russia-Iran commission, Masoud Karbasian, IRNA quoted Russian RIA Novosti news agency on Thursday. "The parties signed an additional agreement to ensure the implementation of the contract for the construction of Sirik," Tikhonov stated in the message.
In mid-December 2016, the Russian company Tekhnopromexport and the Thermal Power Plants Holding Company of Iran signed the agreement for building the thermal power plant in Sirik. The whole project is valued at about €1.5 billion and the Russian side is obliged to invest bout €1.2 billion.
In February 2017, Russia and Iran started the construction of a thermal power plant with a capacity of 1.4 GW in the city of Bandar Abbas in southern Iran. Its construction is expected to take about five years. According to a statement issued by the Russian president's press service, "Work is being done to build the Sirik TPP and the project is expected to come on stream by 2021."
Iranian energy officials are seeking foreign investment to build new power plants and increase the efficiency of existing ones.
In late 2017, TPPH announced that the country was in talks with foreign firms to conclude investment deals worth $6 billion.