South Korea plans to build power plant in Iran

The Korean Electric Power Corporation is planning to build a 1000-MW power plant in the Chabahar Trade and Industrial Free Zone, Southeastern Iran.

Hamed Ali Mobaraki, CEO of the Chabahar Trade and Industrial Free Zone met with South Korean (Korea Electric Power Corp (KEPCO) CEO Cho Hwan-eik to finalize the plans. KEPCO agreed to build the power plant and later transfer ownership to the government.

In the meeting Mobaraki asserted that, “the presence of foreign business groups clearly indicates economic, trade, transit, and tourism capacities of Chabahar port.”

“After the nuclear deal, foreign investors gained more hope and enthusiasm for visiting the Islamic Republic of Iran, particularly Chabahar as the starting point for the country,” he added.

Monaraki said that the Free Zone is calling for investors. Welfare, education and medical facilities are already present in the area.

KEPCO is the largest electricity provider in South Korea. It is half-owned by the South Korean government and supplies 93% of electricity in the country.