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S. Korea to invest USD 820 million in Iran's renewable energy

Xinhua, October 8, 2016 Adjust font size:

South Korea's KTC Co. has signed a deal with Iran's Investment and Economic Development Committee to build a solar plant and a wind farm in Iran, Tehran Times reported on Saturday.

The Korean company will finance 220 million U.S. dollars to build a 100-megawatt (MW) wind farm in the southeastern city of Zabol, and 600 million dollars to build a 200-MW solar plant in the southern city of Fasa, the report said.

KTC has also agreed to transfer new technologies to the country.

"Our goal is to attract investment and transfer technology into the country," Nematollah Torki, the head of Iran's Investment and Economic Development Committee, said Thursday.

"It has been included in the contracts that all equipment and facilities used in the projects should be domestic and Iranian experts and workforce will also participate in the projects," Torki said. Endit