European energy delegations to visit Iran for post-sanction electricity cooperation

August 19, 2015

TEHRAN – A number of European energy delegations will visit Iran soon to expand electricity cooperation with the Islamic Republic once the sanctions are lifted against the country, according to Iranian Deputy Energy Minister Houshang Falahatian.

Falahatian said: “In sanctions era, our experts took effective steps to design and manufacture electrical equipment and update relevant technologies. Now we are more self-sufficient in these domains”, the Mehr News Agency reported on Wednesday.

Manufacturing quality electrical equipment and exporting more electricity and related technical and engineering services are among top priorities Iran’s Ministry of Energy would be looking for to fulfill in the post-sanctions era”, Falahatian noted.

There would be no limitation for foreign investment in energy and electricity domains in the post-sanctions era, Falahatian said; adding: “However, for the Ministry of Energy domestic potentials take priority.”

In the wake of the historic accord reached between Iran and the world powers on Iran’s peaceful nuclear program, many EU countries have been seeking to deepen their economic ties with Iran.

Earlier this month, Finmeccanica S.p.A., which is the leading industrial group in the high-technology sector in Italy, signed a €500 million contract with Iran's Ghadir to build a power plant in the Islamic Republic.