Iran and South Korea Reached New Water Agreement

A senior advisor to the energy minister of Iran has reported on a 1.7-billion-dollar agreement between Iran and South Korea for construction  of Bakhtiari Dam.

Bakhtiari Dam, Iran

Managing Director of Iran Water and Energy Resources Development Company Seyed Mohammadreza Rezazadeh recounted on latest dam construction plans in Iran’s water industry saying “in view of limited financial resources, construction process of six dams has ceased as they were removed from the list of priority plans.”

“Meanwhile, building of other water dams and hydroelectric power plants is still underway according to envisaged timetables,” he continued.

The official referred to a contract between Tehran and Seoul for construction of dams and power stations in Iran stating that three cooperation agreements with an overall worth of 3.4 billion dollars have been so far inked between Iranian and South Korean companies in the utility industry.

Rezazadeh said Bakhtiari Dam formed one of the agreed plans with South Koreans adding “a finance deal worth 1.7 billion dollars has been inked with Seoul over Bakhtiari Dam as final stages of coordination to finalize the project is being carried out between Central Bank of Iran (CBI) and South Korean banks.”

He further touched upon an agreement with China Export & Credit Insurance Corporation (commonly known as Sinosure) for financing two water dam projects underlining that the first Line of Credit (LOC) for supplying 230 million euros of financial resources to construction of Rudbar Lorestan hydroelectric dam.

Mohammadreza Rezazadeh also reported on a deal with Chinese financers for building Chamshir Dam and power plant with an investment of about 290 million euros.

Read more at: MEHR

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Taxonomy

• Resource Management
• Energy
• Dams
• River Engineering
• Hydroelectric Energy
• International Cooperation