South Korea in $3.4 Billion Iranian Water Projects

South Korea in $3.4 Billion Iranian Water Projects

South Korea has signed three memoranda of understanding for implementing major water projects in Iran.
Mohammad Reza Rezazadeh, the executive director of Iran Water and Power Resources Development Company, made the statement on Sunday, ISNA reported.
The MoUs, worth $3.4 billion, include building two hydroelectric dams of Bakhtiari in the western Lorestan Province and Karoun 2 across the Karoun River that stretches along part of Iran's western borders and flows into Iraq.
Touted as one of the biggest energy projects to be built with foreign cooperation, Lorestan Dam is estimated to cost $1.7 billion. It will be built by South Korean industrial conglomerate Daelim in seven years.
The Korean side is set to fund 85% of the project with a return on investment of 13 years.
A third agreement calls for transferring water from a branch of Karoun River to Iran's central regions that are grappling with a worsening water crisis.
The project aims to link Karoun to Iran's central plateau through a small tunnel and a mostly land-based pipeline.
It is a revision of a disputed plan—known as Dasht-e-Behesht Water Transfer Plan—that called for carrying water through a much lengthier 64-kilometer tunnel.
Rezazadeh did not specify when the MoUs were signed, but the triple agreements were part of a larger framework of cooperation discussed during the visit of South Korea's President Park Geun-hye to Tehran earlier this month.

Short URL : http://goo.gl/s6JK51
  1. http://goo.gl/hSLlGa
  • http://goo.gl/klJL11
  • http://goo.gl/FOqEie
  • http://goo.gl/D13qpS
  • http://goo.gl/oQCZFA

You can also read ...

BP: Electric Vehicles to Cut Oil Consumption
The emergence of self-driving electric cars and travel sharing...
OPEC Deal Closer to Market Rebalancing
The OPEC deal is closer than ever to meeting its market...
Brent, WTI Prices Slide Over Higher US Production
Oil prices fell on Wednesday, weighed down by a rebound in the...
SP Phases 17-18  Output Increases
Major overhaul operations in phases 17 and 18 of the giant...
The lion's share of petrochemical exports is bound for China, India and South Korea.
Boosting the country's petrochemical revenues entails...
NISOC in Close Cooperation With Domestic Academic Centers
National Iranian South Oil Company can implement complicated...
Special Devices for Gas Regulating Stations
Some 150 natural gas pressure regulating stations have been...