RetrofitTech Dubai
Wednesday, March 21, 2018
Directory Directory Subscribe

Iran, Russia Finalize €1.2b Finance for Power Project


Please, enter data

Please, enter data

Financial Tribune, 12 September 2017

Russia’s Vnesheconombank, otherwise known as VEB, has signed a contract with Iran’s Bank of Industry and Mine to finance a thermal power plant project in Hormozgan Province.
The contract has been signed by the representatives of the Central Bank of Iran and Thermal Power Plant Holding Company on September 5 in Moscow, BIM’s website reported.
TPPH is responsible for organizing government activities in the field of thermal power generation, including the planning, development, management and operation of its subsidiary plants based on the policies of Energy Ministry.
Hormozgan’s power plant project is planned to be implemented via the Russian government’s €1.2 billion loan and become operational within five years.  
Iran’s Bank of Industry and Mine is the project’s agent bank through which the credits will be transferred.
According to the report, following this contract, BIM has paved the way for further cooperation between Iran and Russia, especially in the case of financing Iranian projects.
BIM was also the agent bank for a $1.5-billion loan from Exim Bank of China to finance the electrification of a 926-km railroad from Tehran to the eastern city of Mashhad in Khorasan Razavi Province. The financing contract, considered to be the first such deal after the removal of international nuclear sanctions against Iran, was signed in Tehran on July 26.
During negotiations with VEB, the Russian bank expressed interest in allocating short- and-long-term loans to Iran, without a guarantee from the government or the Russian Agency for Export Credit and Investment Insurance, only based on BIM’s creditworthiness.
VEB is a government-owned development bank tasked with providing funds for projects in Russia and foreign countries.
Financial Tribune
12 September
Login to Add Your Comment  (for subscribers) | Subscribe


Latest News

Abu Dhabi Ports, Russia sign pact to bolster trade, attract investment to UAE free zones
The National, 21 March 2018

Abu Dhabi Ports signed a pact with Russia to strengthen trade ties and attract Russian companies to invest in the emirate’s free zones.

The ...

Read full story
Abu Dhabi Ports, Russia sign pact to bolster trade, attract investment to UAE free zones
Orascom Construction JV wins Dh661m Fujairah airport contract
The National, 19 March 2018

Orascom Construction and its UAE joint venture partner won the $180 million (Dh661m) Fujairah International Airport expansion contract as the Egyptian contractor ...

Read full story
Orascom Construction JV wins Dh661m Fujairah airport contract
$295 million for rapid transport
Business News, 19 March 2018

The World Bank has approved a $295 million package to overhaul the transport sector.

The Greater Beirut Public Transport Project (GBPTP) is ...

Read full story
$295 million for rapid transport
Dewa awards four substation construction deals worth Dh1.28bn
The National, 17 March 2018

Dubai Electricity & Water Authority (Dewa) awarded contracts to construct four substations with a combined value of Dh1.28 billion, as the state-owned firm ...

Read full story
Dewa awards four substation construction deals worth Dh1.28bn
Back to Home Page 2197 --- 0 <><><> 342.16666666667.....exvideo=0....eximage=0
P -1
BR 0

RetrofitTech Dubai

3rd Annual Mosque Design & Development Summit
1 - April 2018
4th Annual RetrofitTech Dubai Summit & Awards
10 - April 2018
The Annual Future Drainage & Stormwater Networks Abu Dhabi
2 - May 2018
Wet Infrastructure Summit
2 - May 2018
Future Civil Defense
7 - May 2018
  View more  

Market Indecies
Saudi SE - 2.32%
Dubai FM - 4.53%
Abu Dhabi SE - 3.99%
Kuwait SE - 1.51%
Doha SM - 8.36%
Muscat SM - 6.18%
Casablanca SE Closed
Bahrain SE - 0.98%
Cairo SE Closed
Amman SE - 1.12%

Beirut Boat Left Banner

Quick Links
  Brochures & Flyers  

Up-coming events
  Project Qatar - 7 May - 10 May 2018  
  Qatar StoneTech - 7 May - 10 May 2018  
  Heavy Max - 7 May - 10 May 2018  
  Qatar Hospital Build - 7 May - 10 May 2018  
  Qatar School Build - 7 May - 10 May 2018  
  Qatar Sports Infrastructure - 7 May - 10 May 2018  
  Qatar Transport & Logistics - 7 May - 10 May 2018  
  Beirut Boat - 9 May - 13 May 2018  
IFP Group Events Calendar

Magazine sections
  Growth Markets  
  Regional Overview  
  Tips and Tricks  
  Home Finance  
  Our Meetings
  Legal Issues


IFP Corporate
• IFP Emirates
• IFP Lebanon
• IFP Qatar
• IFP Iraq
• REC Saudi Arabia
• IFP China
Beirut Boat
Energy Lebanon
Project Lebanon
Heavy Max
Hospitality Qatar
Project Qatar
Qatar Hospital Build
Qatar School Build
Qatar Sports Infrastructure
Qatar StoneTech
Qatar Transport & Logistics
Iraq Agrofood Baghdad
Saudi Arabia
Riyadh Motor Show
IFP Group 2018 - © All rights reserved