Russia’s $5 billion loan will be used for major projects
Russia’s $5 billion loan will be used for major projects

TEHRAN (Iran News) – Iran’s Minister of Energy Reza Ardakanian is to travel to Moscow to operationalize Russia’s $5 billion loan for constructing two major projects in Iran. Announcing on Wednesday, Ardakanian the head of Iran-Russia joint economic cooperation commission is to travel to Moscow to operationalize Russia’s $5 billion loan which was agreed to be […]

TEHRAN (Iran News) – Iran’s Minister of Energy Reza Ardakanian is to travel to Moscow to operationalize Russia’s $5 billion loan for constructing two major projects in Iran.

Announcing on Wednesday, Ardakanian the head of Iran-Russia joint economic cooperation commission is to travel to Moscow to operationalize Russia’s $5 billion loan which was agreed to be granted to Iran for joint infrastructure projects in October 2015.

He said that the loan will be used for construction activities of two projects, including Sirik Power Plant which is located on the Persian Gulf coast and a major railway project linking Incheboron, in the northeast, to Garmsar, located to the southeast of the capital Tehran.

Russia had agreed to provide a $5 billion loan to Iran for joint infrastructure projects in October 2015, when Russian Energy Minister Alexander Novak traveled to Tehran.

The Iranian parliament has also extended a license allowing the government to receive a total of $5 billion loans from Russia for infrastructure projects.

Heading a high-ranking delegation, Ardakanian met and held talks with Russian Energy Minister Alexander Novak in Moscow on the latest issues of mutual interest.

The developments of bilateral projects and the agreements reached the 15th joint economic cooperation commission of Iran and the Russian Federation in the fields of agriculture, banking sector, energy, industrial and technical affairs will be also discussed during their meetings.

  • source : MNA, Irannews