Members of the Electricity Syndicate have warned the Ministry of Power that recent currency fluctuations will lead to 100 power plant projects shutting down which can lead to outages. Shargh writes, an industry which used to plan 50 years ahead can now only plan for the upcoming summer. Payam Bagheri, Member of the Board of Directors at the Electricity Syndicate said, after the 2011 currency crisis, 250 projects became unfeasible and a number of them have yet to become operational. Since the responsibility for currency fluctuations falls on the contractors, the Syndicate is imploring the Government to adjust the value of the contracts. The method would be much cheaper for the Government than canceling the old contracts and signing new ones.
In a ceremony introducing the NIMA currency system, Vice President, Eshaq Jahangiri emphasized the Government’s decision to control the currency market even if some people may be planning to disrupt financial stability. He mentioned the […]
Iranian Government will no longer build power plant nor dams, announces the Ministry of Energy of Iran. “Based on new regulations, the investment phase for new projects in the areas of water, electricity and sewage […]