Iran signs a large-scale agreement with Russia to build a new nuclear power plant for $25 billion

Iranian company Iran Hormoz has signed a large-scale agreement with Russia's Rosatom worth $25 billion to build a new nuclear power plant in Sirik, Hormozgan province in the south of the country. About reported iranian agency IRNA.

According to the agreement, the Russian state corporation Rosatom will act as the general contractor and provide a full cycle of work – from design to commissioning of the plant, as well as provide the necessary technologies and equipment.

The new NPP will consist of four power units with a total capacity of almost 5,000 MW. A site of about 500 hectares has been allocated for construction.

The project became part of Iran's 20-year strategic program for the development of nuclear energy in the country.

The head of the Atomic Energy Organization of Iran, Mohammad Islami, emphasized that cooperation with Russia in the field of nuclear energy is strategic and opens the way to the introduction of new technologies, in particular small modular reactors.

He noted that the world is actively moving in this direction, and Iran has the necessary industrial potential to implement such projects.

Russia already has one large nuclear power plant project in Iran, Bushehr. Its first 1000 MW power unit was handed over to the Iranian customer in 2013. In 2016, construction of the second stage began. Work on the second power unit was scheduled to be completed in 2024, and on the third in 2026.

• On July 15, Yeni Şafak reported that Rosatom lack of money to complete Turkey's first nuclear power plant, Akkuyu.