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St. Petersburg International Economic Forum 2016

Russia, Iran might soon implement projects for $40 bln — minister

Two large contracts are already prepared with Iran totaling $2.5 bln

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ST. PETERSBURG, June 16. /TASS/. Russia and Iran mighy soon implement projects for $40 bln, Russian Energy Ministry Alexander Novak said on Thursday at the St. Petersburg International Economic Forum (SPIEF-2016).

‘Currently the total volume of the projects - we calculated with our colleagues, and this figure is probably the same in our estimations - is about $40 bln. This is the minimum level of potential projects that could be implemented in the near future," the Minister said.

Currently, according to Novak, two large contracts are already prepared with Iran totaling $2.5 bln, and sources of funding by lending by the Iranian side have been found. "These are the contracts related to two thermal power plants, four blocks of 350 megawatts in terms of the development of electric power industry of Iran, as well as reconstruction of the railway line," he said.

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Iran SPIEF 2016

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