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Chinese firm studying Iran power projects

Iran says a major Chinese infrastructure company is studying the prospects of investing in its water and electricity development projects. 

Media reports say a top-level executive team from PowerChina is currently in Tehran to meet the related officials to discuss potential areas of investments.

The Chinese team on Monday visited Iran’s Energy Ministry and voiced interest to take up projects in the country, Tasnim news agency reported. Officials at the Ministry also emphasized that Tehran is interested in cooperating with PowerChina, the report added.

Alireza Daemi, the deputy energy minister for planning affairs, told Tasnim that Iran is specifically interested in cooperating with the Chinese company in constructions of dams, using renewable energies, building combined-cycle power plants, and the development of hydropower projects.  All these projects, Daemi added, will be carried out with PowerChina through a scheme known as engineering, procurement and construction (EPC).

The report has further quoted Yan Zhiyong, the board chairman of PowerChina, as saying that the company has serious plans to make maximum use of the available potentials in the Iranian market, stressing that working in Iran “is a great honor” for his company.

The company – that identifies itself as the Power Construction Corporation of China (PowerChina) – says on its website that it focuses on a range of power generation fields including hydropower, thermal power, new energy and infrastructure. It says its business also extends into real estate, investment, and finance services.The company – that was established in 2011 – has reportedly signed several power project agreements in Central Asia. In April, it also signed a deal with Pakistan to construct a huge wind power plant in the country. The deal was signed during the landmark visit to Islamabad by China’s President Xi Jinping where he unveiled a package of investments for a major economic corridor link with Pakistan.

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