Unit International has signed an agreement to build natural gas power plants in Iran, with an investment of $4.2bn.
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The Turkish firm plans to add combined gas-fired power generation of 6,020 MW in all, meeting 10 per cent of Iran’s electricity requirements.

Construction of the power plants is to commence in the first quarter of 2017, reported Reuters.

Unit International head Unal Aysal said: “This is one of the largest investments ever made in a single package in Iran and the world.”

As per the 20-year deal, the power plants, which will run on build-operate model, will receive natural gas from Iran in exchange for the electricity generated at the combined cycle power plants.

Thermal Power Plant Holding (TPPH) signed the deal with United International on behalf of Iran Energy Ministry.