Iran Press/Iran news: In an exclusive interview with Iran Press after Wednesday's cabinet session, Reza Ardakanian referred to a $5 billion loan from Russia, adding that Iran would use the loan to implement several major projects.
"What Russia's energy minister has announced is to confirm that a $5 billion loan has been approved. The loan had been discussed by Tehran and Moscow back in 2016," he added.
Ardakanian went on to say that Iran's Parliament has given legal permission to the government to receive up to $5 billion of a low-interest Russian government loan.
"With the Russian government's agreement $2.2 billion of the loan was used to implement two major projects; the electrification of Garmsar-Incheboron rail route, and constructing a 1,400-megawatt thermal power plant in Sirik County, Hormozgan Province in the south of Iran," he noted.
The Minister underlined, "Recently, we also have agreed on four projects for the remaining $ 2.8 billion; Zahedan-Birjand rail route, Upper Gotvand Hydroelectric Power Plant with a capacity of 640 MW, over thousand metro wagons for major cities, and reconstruction of Ahwaz (Ramin) Thermal Power Plant."
The official concluded his remarks by saying, "Talks will begin in the coming weeks, and we hope that by the beginning of 2020 these projects will be completed."
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