Russia is ready to consider the possibility of financing the first projects in Iran

Russia is ready to consider the possibility of financing the first projects in Iran


The agreement between the Finance ministries of the two countries to review the first two projects are ready for signing, said the head of Ministry Alexander Novak.

MOSCOW, 23 Oct. Russia is ready to consider the possibility of giving Iran credit under two joint projects worth $ 2 billion, said Minister of energy Alexander Novak in interview to TV channel “Russia 24”.

Earlier it was reported that Iran has applied to the Russian side for the credit in 5 billion dollars for infrastructure projects in the country.

“Actually, the application (for a loan of 5 billion — ed.) just received, and our Ministry of Finance is considering such. I want to say that this mechanism provides for the consideration of specific projects and lending opportunities of specific projects. It’s not the total credit line on any projects”, — said the head of the Ministry of energy.

According to him, an agreement was reached between the ministries of Finance of both countries to consider the first two projects that are ready for signing.

“This is a project on the electrification of one of the lines of railway, the second project on construction of thermal power plants, increase construction of thermal power plant “Po” — two blocks of 350 MW. Total cost of two projects of about $ 2 billion. It is quite large, and long projects, large investments, so this tool need to fix,” said Novak.