Russia to hand Iran €1.2bn loan for Sirik plant construction

"The 1,400-megawatt Sirik power plant will be built with a 1.2 billion-euro loan from Russia and domestic resources," Reza Ardakanian said.

As reported earlier, Sirik Power Plant is estimated to cost $1.4 billion. The Russian side has agreed to put up 85% of the cost and the rest will be paid by Iran's Bank of Industry and Mine.

Construction of the thermal power station in the southern province will create 3,000 jobs and 500 more will work at the plant when the first unit goes on stream.

Sirik County overlooks the Strait of Hormuz, between the Persian Gulf and the Oman Sea.

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