Iran to build power plant in Sri Lanka

Iran will build a 150-megawatt electricity power plant in Sri Lanka, the director of the Asia-Pacific Commercial Department of the Trade Promotion Organization of Iran (TPOI) announced.

Parviz Rezaii said that the construction of the hydroelectric power plant was discussed by the Sri Lankan ambassador to Tehran and officials of the Export Development Bank of Iran (EDBI), the Export Guarantee Fund of Iran (EGFI), the Iran Foreign Investment Company (IFIC), and the Iranian Foreign Ministry.

The strengthening of Iran-Sri Lanka relations depends on the expansion of bilateral trade ties, especially in the fields of technical and engineering services, he added. Iran-Sri Lanka trade hit $730 million in Iranian calendar year 1385 (March 2006-March 2007), Rezaii said.

Iran and Sri Lanka on Tuesday signed eight memoranda of understanding (MoUs) on expansion of mutual cooperation between the two countries.

The signing ceremony was attended by President Mahmoud Ahmadinejad and his Sri Lankan counterpart Mahinda Rajapaksa.

Iran's Minister of Road and Transportation Mohammad Rahmati, Minister of Economic Affairs and Finance Davoud Danesh-Jaafari and Oil Minister Gholamhossein, Nozari representing the Iranian side, signed the MoU's with Sri Lankan Minister of Petroleum and Petroleum Resources Development A.H.M. Fowzie.

The MoUs urged expansion of mutual cooperation on shipping, customs formalities, construction of multi-purpose water and energy projects, increasing oil refinery capacities, expansion of cooperation between radio and television networks of the two countries, investments as well as developing ties between the two sides chambers of commerce.

Tehran Times