Russia Will Build Two New Nuclear Plants in Iran, IRNA Says

Russia will build two new power plants in Iran with a capacity of 1,000 megawatts each, a government news agency said, citing Behrouz Kamalvandi, spokesman for Iran’s Atomic Energy Organization.

The two countries reached a preliminary agreement to construct “at least two other nuclear power plants” alongside the first Bushehr plant in southern Iran, Kamalvandi said today, according to the official Islamic Republic News Agency.

The accord has yet to be signed by Ali Akbar Salehi, the head of Iran’s Atomic Energy Organization, and Sergei Kiriyenko, chief executive officer of Rosatom Corp., the state-run Russian nuclear corporation, Kamalvandi said.

Kamalvandi’s comments comes after Nikolai Spassky, Rosatom’s deputy chief executive officer, traveled to Tehran yesterday to discuss the new projects, IRNA said.

The Russian-built 1,000-megawatt reactor located in Bushehr province is Iran’s first and only functioning nuclear power plant. Iranian officials say they plan to generate 20 times as much nuclear power to accommodate their growing population of 77 million.

Before it's here, it's on the Bloomberg Terminal.