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Iran Company to Renovate Syrian Hydropower Plants, Press TV Says

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May 14 (Bloomberg) -- Safa Nicu Sepahan Co., a privately owned Iranian company, reached an agreement with Syria’s government to renovate two hydroelectric power stations in northern Syria, the state-run Press TV reported.

The company will refurbish the al-Furat dam at an estimated cost of 14.8 million euros ($19 million) and the al-Baath plant for 767,000 euros, according to a report published on the news channel’s website. The al-Furat power station on the Euphrates River has the potential to generate 800 megawatts of electricity and the al-Baath 75 megawatts.

Iran will begin exporting 50 megawatts of electricity to Lebanon and Syria next week as part of an agreement reached in February, Abdolhamid Farzam, an official with the Iranian Energy Ministry, said yesterday, Press TV said. Iran will initially transfer 50 megawatts of electricity to the two countries and will reach 200 megawatts at a further stage, Farzam said, without giving a more detailed timeline.

To contact the reporter on this story: Ladane Nasseri in Dubai at lnasseri@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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