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Iran to Sell 5,000 Megawatts Electricity to India, Press TV Says

March 5 (Bloomberg) -- Iran plans to export 5,000 megawatts of electricity to neighboring India, state-run Press TV reported, citing Energy Minister Majid Namjou.

The Persian Gulf nation wants to sell power instead of natural gas because electricity sales will be more cost-effective, the broadcaster said, without elaborating. Iran had a total generating capacity of 53,000 megawatts before 2009, according to the report on Press TV’s website.

International sanctions against Iran over its nuclear program are threatening a $9.5 billion annual trade in crude oil between India and Iran, the second-largest producer in OPEC.

To contact the reporter on this story: Nayla Razzouk in Dubai at nrazzouk2@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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