Iran’s Energy Minister Hamid Chitchian has announced the signing of 15 Memoranda of Understanding (MoU) with South Korea in water and electricity sectors.

During a meeting with South Korean Minister of Land, Infrastructure and Transport Kang Ho-in, Iranian Energy Minister Chitchian said “communications among the two countries’ officials and companies have prepared the ground for mutual collaboration though the visit of the South Korean president to Tehran will further boost the ties; “in recent months, numerous issues of interest between the two sides have turned into MoUs which will be sealed at the presence of Iranian and South Korean presidents.”

Chitchian stated that nine MoUs will be inked in the field of water while six other agreements pertain to the power sector; “all deals have been turned into a strategic document between the two countries and will soon become operational.”

The member of the cabinet went on to assert that “in the water sector, the agreements will cover construction of Bakhtiari Dam and Power Plant, construction of Karun II Dam and Power Plant, smart management of water in Karun II Dam as well as construction of Beheshtabad water conveyance tunnel with 65 km in length which is considered for transferring one billion cubic meter of water annually to the central part of Iran.”

“Meanwhile, the agenda of the agreements in power sectors include creation of three power stations within the financial framework of BOO (Build Own Operate) as well as Zanjan IV, Nizar, Bafgh power houses in addition to smartification of the country’s power grid,” he continued.

Hamid Chitchian also stressed “other aspects of cooperation are promotion of transmission voltage from 400 to 765 KV as well as power transmission and distribution loss reduction; “the Iranian administration would fully support the projects and we hope that they will enjoy low interest rate loans on the part of the South Korean government.”

Energy minister emphasized that the reached agreements only mark the early steps in collaboration between the two countries commenting “given the plan to add 47 to 50 thousand megawatts to Iran’s power production capacity with 7500 megawatts of renewable energies, we are looking forward to bolster ties with South Korea in the arena.”

“Due to climate conditions in the country, we require water desalination systems on the side of the Persian Gulf and Oman Sea,” highlighted the official expressing hope that joint collaboration will take place between domestic and Korean companies.

Chitchian said that the Iranian Ministry of Energy has signed Electrical Contractors' Association (ECA) contracts with South Korea and will ensure the payment of electricity prices; “in addition to domestic sales, Korean companies will be able to sell the produced electricity to other countries.”

Minister of Communications and Information Technology Mahmoud Vaezi said on Saturday that a document for promoting Iran-South Korea cooperation in the field of communications and information technology is being compiled to be signed by the two countries' communications ministers soon.
[Iran, S. Korea to sign cooperation deals on IT]

Talking to IRNA, he said Iranian and South Korean companies involved in the communications and information technology sectors are to discuss avenues for boosting collaboration during South Korean delegation's visit to Tehran.

Communications and Information Technology Ministry is seeking to compile a document on joint cooperation, but it will not be completed until the South Korean team's visit to Tehran. Therefore, it is scheduled to be inked by the two countries' ministers of communications.

Referring to the two countries' good relations in the fields of communications and information technology before the implementation of Joint Comprehensive Plan of Action (JCPOA), Vaezi said that efforts are currently underway to further promote exchanges under current conditions.

South Korean companies including Samsung are active in Iran which will pave the way for expansion of mutual cooperation, he said.

South Korean President Park Geun-hye will start her three-day trip to Tehran Sunday at the invitation of his Iranian counterpart Hassan Rouhani.

Signing several cooperation agreements, exploring ways of strengthening collaboration in the fields of energy, banking and insurance, infrastructure projects, health and treatment, science, technology and culture are on the agenda of the two countries' officials.