An agreement to build a power plant in Maku Free Trade Zone in West Azerbaijan Province was signed between the zone and the International Aviation Industry Corporation of China (AVIC), IRNA reported.
Under the agreement, AVIC will build a 1600 MW plant in four phases in the zone which is Iran’s largest and the world’s second largest free trade area. AVIC will invest $1.6 billion in the project, of which $500 million will be allocated for the first two phases. The land is provided by the zonal authority and will be built over an area of 40,000 square meters.
It is reported that 120 and 500 MW will be produced in the first and second phases and will be allocated to industrial units in Maku. Signing the agreement on Sunday, Xia Lymyn, the AVIC representative expressed his company's interest in investing in energy and mining sectors in Iran .
Hossein Foruzan, Maku Free Trade and Industrial Zone CEO said, "to facilitate grounds for domestic and foreign investments, the power plant in addition to the airport will help augment infrastructure in the region." According to the official, upon completion of the power plant 15,000 jobs will be created.
