The Russian Federal Treasury has allocated some €73 million to the development of Sirik Power Plant in southern Iran in 2022, according to an official familiar with the matter.
Russia is currently opening an LC for the fund, Behnam Khaefinejad, the contractor of steam power plants project at Thermal Power Plants Holding Company was quoted as saying by IRNA.
Khaefinejad said that the executive operation of the power plant officially began seven months ago.
Based on a timetable, the first phase of the project is scheduled to come on stream within the next three years and a half, the official said.
Khaefinejad had said earlier this month that Russia is granting some €5 billion in loans to joint projects with the Islamic Republic of Iran.
The Sirik Power Plant is planned to be constructed in four units, with a total electricity generation capacity of 1.4 gigawatts, in Hormozgan province at the coast of the Persian Gulf.
Russia’s Power Machines, a major company focused on thermal power plant construction, has been awarded to build the plant in the next five years through partnerships with local Iranian energy and construction firms.