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Iran: The alliance of Iran and Chinese companies will implement the first phase of a broad national program to modernize Iran's aging electrical infrastructure, including the renovation of 312 substations.
The first phase of the plan will cover the upgrade of 67 substations nationwide, with at least 50% of the equipment to be procured from domestic equipment manufacturers, reports Financial Tribune.
This will translate into contracting local producers to provide equipment worth about $512.8 million, according to Arash Kordi, managing director of Iran Power Generation, Distribution and Transmission Company (Tavanir).
The rehabilitation of power transmission lines and the construction of new electrical substations will help the Energy Ministry handle peak-hour demands by reducing electricity losses.
The project will be implemented with Iranian Pine Group and China's CHINT Electric Company, which will lead the other companies in the two countries. The first phase of the project is financed by two Chinese companies.
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