Monday, October 11, 2010

Sinohydro Group Invests CNY10 Bln in Iran Dam Project

Sinohydro Group Invests CNY10 Bln in Iran Dam Project
in: Caijing, 10/09/2010

*Sinohydro Corportation is to invest 10.035 billion yuan in a dam
project in Iran, following a Zahedan hydroelectric project this January.*

Sinohydro Corporation, the Beijing-based world's largest hydroelectric
company, has inked a deal with Iran to invest more than 10 billion yuan
in a dam project in Zanjian Province.

The hydroelectric project was among a basket of cooperation projects
between the two countries, as one of the most important of them regarded
by the Ministry of Energy in Iran, sources said.

The dam has a capacity of 108MW and needs 60 months for construction.
The deal valued at 10.035 billion yuan.

The project is another significant gain after the signing of the Zahedan
project in January 2010, the company said, targeting at further
stretches in Iran market.

The annual consumption of electric power consumption in Iran hit 2700 KW
for each family, more than three times of the average level globally,
Iran's media reported citing its vice minister of the Ministry of Energy.

Founded in 1950, Sinohydro is a Chinese state-owned hydropower
engineering and construction company, with operations in Asia, Africa,
Europe, North America and South America.

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