Iran And Russia Have Agreed To Raise 1.2 Billion Euros On Electricity Projects

- Sep 19, 2017-

China energy storage net news: Russia's Vnesheconombank company, namely VEB, already with Iran industrial bank (BIM) signed a contract, to a thermal power plant project in gansu province of hormuz.The contract, signed in Moscow on September 5, was signed by representatives of Iran's central bank and thermal power plant holding company, BIM reported.

TPPH (thermal power plant holding company) is responsible for organizing government activities in thermal power generation, including planning, development, management and operation of its subsidiary power stations under the department's policies.The power plant project in holmuzgan province is planned to be implemented through a 1.2 billion euro loan from the Russian government and will be operational within five years.

Iran's industrial and mining bank is the acting bank of the project, through which the bank transfers the loans.According to the report, after the contract, BIM paved the way for further cooperation between Iran and Russia, particularly with Iran's project financing.

BIM is also the acting bank for a $1.5 billion loan from China's export-import bank to finance the electrification of 926 km of railway from Tehran to the eastern city of mashhad, the eastern city of khorasan province.The financial contract signed in Tehran on July 26 is believed to be the first international deal to impose nuclear sanctions on Iran.

In negotiations with VEB, the Russian Banks expressed an intention without government or Russian export credit guarantee and investment insurance institutions, only based on BIM credibility, to distribute both short-term and long-term loans to Iran.VEB, a state-owned development bank, is responsible for funding Russian and foreign projects.