Iran and Russia Sign $25 Billion Agreement to Build New Nuclear Power Plants
In a major step to strengthen their strategic partnership, Iran and the Russian state nuclear energy corporation "Rosatom" signed a new agreement worth 25 billion US dollars, aimed at establishing and developing four new nuclear power plants on Iranian soil.
The announcement of the signing was made through the official Iranian news agency (IRNA) on Friday, while "Rosatom" indicated in a separate statement on Thursday that a memorandum of understanding was signed with the Iranian side last Wednesday, concerning the construction of small nuclear plants, without disclosing the detailed number at that time.
This agreement comes as a culmination of previous announcements by officials from both countries. The head of the Iranian Atomic Energy Organization, Mohammad Eslami, confirmed on Monday the ambitious plan of his country to secure 20,000 megawatts of electricity through the development of nuclear power plants, with a "clear share for Russia" in this massive project.
In the context of ongoing cooperation, Eslami clarified that "the second and third units of the Bushehr nuclear power plant are currently under construction by Russia," emphasizing that "this project is a priority for the governments of Iran and Russia, and the directives of the presidents have contributed to accelerating and facilitating the progress of work, and bilateral negotiations significantly support these efforts."
The announcement was not limited to construction alone, but also included strengthening academic and research cooperation. Eslami added that the visit to Moscow "includes tours of partner factories and meetings with scientific and research institutions to enhance academic and research cooperation."
This step is part of Iran's efforts to expand its nuclear energy infrastructure at a time when it faces a power shortage crisis during peak demand months. Iran's current nuclear capacity is limited to the only operational Bushehr plant in the south, which was built with Russian assistance and has a capacity of about one gigawatt.
This agreement is made within the framework of the close relations between Tehran and Moscow, where Russia has stood by Iran and condemned the American and Israeli strikes that targeted Iranian nuclear facilities this year, claiming to prevent Tehran from acquiring nuclear weapons, which Iran firmly denies, asserting the peaceful nature of its nuclear program.
