SUNIR Expanding Role in Int’l Markets

Iran Power and Water Equipment and Services Export Company (SUNIR) has exported $82 million worth of engineering and technical services since March 2015, but is working for a significant increase in exports, the managing director said on Tuesday.

Bahman Salehi said plans have been devised to expand the company's share in the Middle East energy market by boosting exports, IRNA reported.

SUNIR has participated in 50 tenders overseas worth $1.8 billion, including in Iraq, Afghanistan and Syria.

Exports included high-tech mobile electricity substations, electrical insulators, cables, high voltage power transmission towers and industrial switches.

The official noted that Iran's effective presence in international markets is crucial. "However banking problems, lack of regional security and fluctuation in oil prices have made it rather  difficult to carry out projects in other countries."

"Despite SUNIR's competence, the company was not able to bid for some lucrative contracts wotht an estimated $564 million when sanctions were in place."

Referring to Senegal, Turkmenistan and Afghanistan as SUNIR's traditional markets, he noted that Iran's nuclear accord with the world powers has paved the way for rebuilding ties with European firms, namely in Spain, Italy, Austria and Croatia, Guinea, Kenya and Ecuador.

  Foreign Ventures

Commenting on ongoing ventures in 13 countries, Salehi added that a 50-megawatt wind power plant project, worth $150 million, is under construction in Kazakhstan by SUNIR, with the company supplying the bulk of the equipment.

In addition, negations are underway to build two thermal power plants in Kazakhstan, each with 250 MW output capacity.

"During the last 1.5 years, four memoranda of understanding worth $2.4 billion were concluded in new markets namely Spain, Tajikistan, Russia, Armenia and Cyprus," he said.

SUNIR has signed $160 million worth of contracts since March 2015, he added, stressing that should foreign banks ease financial constraints, the company will turn into a key player in global energy market.

According to Masoud Hojjat, deputy chief executive of SUNIR, the company provided electricity to 1,000 small towns and villages in Sri Lanka, using Iranian equipment, in one of its major projects.

Hojjat described the deal as a turnkey project, under which SUNIR was given full responsibility for implementing the project and handing it over in fully operational form to the client.

The large-scale venture was hit by delays because most banks in and around the tiny island nation of Sri Lanka south of India refused to cooperate with Iranian banks and fund the project citing the international sanctions.