Korean, Turkish firms to build power plants in Iran
South Korea and Turkey have teamed up to develop a chain of power plants in Iran in what appears to be the first such partnership in the Middle East.
The partnership was formed by virtue of an agreement that South Korea’s SK Engineering & Construction (SK E&C) signed with Turkey’s energy giant UNIT International S.A. on Saturday.
Under the agreement, the South Korean firm would join the Turkish firm’s ongoing project to build and operate five new gas-fired power plants in Iran, said to be worth $4.2 billion in total.
Accordingly, SK E&C would be in charge of building the five new power stations.
The power stations would have a combined generation capacity of 5,000 megawatts, making them Iran’s largest privately developed power plants, South Korea’s Yonhap news agency quoted SK E&C officials as saying.