Iran: A consortium of Iranian and Chinese companies will execute the first phase of an extensive national plan to modernize Iran’s aging electrical infrastructure, which will include the refurbishment of over 312 substations.
The first phase of the plan will cover the upgrade of 67 substations nationwide, with at least 50% of the equipment to be procured from domestic equipment manufacturers, reports Financial Tribune.
This will translate into contracting local producers to provide equipment worth about $512.8 million, according to Arash Kordi, managing director of Iran Power Generation, Distribution and Transmission Company (Tavanir).
The rehabilitation of power transmission lines and the construction of new electrical substations will help the Energy Ministry handle peak-hour demands by reducing electricity losses.
The project is to be implemented with the Iranian Parsian Group and China’s CHINT Electric Company who will lead a group of other companies from the two countries.
The first phase of the project is to be financed by two Chinese companies.
Source: Financial Tribune