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China Water Company Signs MoU to Build Dams in Maku

China Water Company Signs MoU to Build Dams in MakuChina Water Company Signs MoU to Build Dams in Maku

A memorandum of understanding was signed by Maku Free Zone, China Water Company and Azarab Oil and Gas Company to build two dams in West Azarbaijan Province.
Gholamreza Soleimani, CEO of Maku Free Zone, made the announcement on Thursday, MFZ news portal reported.
"The Badowli and Showt dams will be constructed based on an engineering, procurement, construction and financing [EPCF] deal after gaining approval from the Ministry of Energy," Soleimani said, adding that the Chinese firm will provide 85% of the funds.
According to the official, obtaining permits to pave the way for the foreign investor to start the venture has been a time-consuming process due to its bloated bureaucracy.

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