Iran and Russia to sign electricity contract worth $10 billion

Iranian Energy Minister Hamid Chitchian and his Russian counterpart Alexander Novak agreed to build thermal and hydro power plants and power lines and expand energy exports from Russia to Iran, Trend reports.

The agreement will cost $8-10 billion. Russia will be exporting 500MW/h to Iran.

Ali Akbar Salehi, head of the Atomic Energy Organization of Iran, said on April 13 that Iran had a contract signed with Russia in 1992. According to the document, Russia will build four new nuclear power plants in Iran. The second power plant construction will start in Iran in 2014.

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