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Iranian firm aims to win power plant repairs contracts in Venezuela

US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
Iran Power Plant Repairs company aims to win a major contract for carrying out projects in Venezuela.

Iran’s state-run power plant repairs company is aiming to win a contract for carrying out major projects in Venezuela.

CEO of the Power Plant Repairs company of Iran said on Tuesday that the firm had reached an initial understanding with Venezuelan authorities for repair works on around 10 GW of power plant capacity in the South American country.

Masoud Moradi said the contract could be finalized in a future visit by Iranian parliament speaker Mohammad Baqer Qalibaf to Venezuela.

“We are capable of responding to 10 GW of Venezuela’s demand for (power plant) repairs completely on our own,” said Moradi.

The announcement comes amid growing economic and energy cooperation between Iran and Venezuela as the two countries seek to offset the impacts of American sanctions on their energy sectors.

Iranian firms have contributed to large-scale energy projects in Venezuela in recent years, including in joint schemes to boost the country’s crude oil and gasoline production.

That comes as a visit by Venezuelan President Nicolas Maduro to Tehran in July allowed for a further deepening of ties between Iran and Venezuela.

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