Iran, China to ink agreement on 10 dam projects | world | Hindustan Times
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Iran, China to ink agreement on 10 dam projects

A $2 billion agreement on establishment of a maximum of 10 dams will be signed by Iran and China in two weeks.

world Updated: May 06, 2007 14:31 IST

A $2 billion agreement on establishment of a maximum of 10 dams will be signed by Iran and China in two weeks, Deputy Energy Minister Rasoul Zargar said.

Zargar said, foreign investors warmly welcome dam and power station projects particularly European and Asian countries are keen to invest in Iran, IRNA news agency reported on Saturday.

The deputy minister dismissed the news about the blockage of finances on Iranian projects as incorrect.

Expounding on the situation of domestic investment in the water sector, Zargar said, "Despite reluctance of domestic investors to invest in any project, we are doing our best to build tow dams in Bushehr and Zanjan provinces by attracting domestic investment."

He further said, "We will attempt to finance the credits required for ten dam building projects in the current Iranian year (started March 21)."

Tenders on five dam projects are being held and the winners will be declared in three months. The relevant five dams are to be built in Ardebil, West Azarbaijan, Gilan, Fars and Lorestan provinces.

Turning to the flood control project implemented in Dasht Zabol, Sistan-Baluchestan province, and the $200 fund allocated by the World Bank in the 1970s, he said, "As a consequence of this project, no damage was inflicted on the area despite the flow of flood water from Afghanistan's Hirmand river in the current year."

"On account of such a project, we managed to harness the flood water and use it to irrigate the farmlands in Dasht Zabol so that the rate of cultivated farmlands in the area increases by 3-4 folds and reach about 90 hectares" he added.