Hyundai to build power plant in Iran

South Korea’s Hyundai Engineering Company (HEC) will ink a contract to construct a 500-megawatt power house in Iran.

On the threshold of the South Korean president’s visit to Tehran, a panel of executives and experts at Hyundai’s energy sector has arrived in Iran.

Accordingly, the South Korean delegation has travelled to Zanjan city in order to visit and assess facilities and infrastructures required for the construction of a 500 MW power plant, high-voltage power transmission lines as well as a gas injection station.

On the basis of an agreement reached between a subsidiary of Iran Power Generation and Transmission Company (Persian acronym: TAVANIR) and Hyundai Engineering Company of south Korea, a 500-megawatt power station will be constructed 25 kilometers off Zanjan covering an areas of 42 hectares within the framework of a Build-Own-Operate (BOO) contract.

Moreover, South Korea’s HEC has announced that “in time with the visit of South Korean President Park Geun-hye to Tehran in May, a contract worth 3.6 million dollars will be sealed with a private Iranian firm to build a gas refinery in South Pars field.”