Iran to finance two new power plants in Ecuador
Sunday, 8 March 2009
QUITO, Mar 7 (AFP): Iran will finance two new power plants in Ecuador and extend a 40-million-dollar loan for business development, officials from both countries said yesterday, three months after the first visit by an Ecuadoran president to Tehran.
Visiting Senior Deputy-Minister of Energy of Iran, Hamid Chitchian, said after meeting with President Rafael Correa that ground would be broken in four months for two new 10 megawatt and 15 megawatt power plants with Iranian financial backing.
Correa's office, in turn, said there were also joint plans with Iran to build a thermo-electric power plant in the country sometime in the future.
Central Bank of Ecuador president Carlos Vallejo said Iran would lend 40 million dollars to Ecuador's National Financial Corporation for the purpose of promoting small- and mid-size businesses.
Visiting Senior Deputy-Minister of Energy of Iran, Hamid Chitchian, said after meeting with President Rafael Correa that ground would be broken in four months for two new 10 megawatt and 15 megawatt power plants with Iranian financial backing.
Correa's office, in turn, said there were also joint plans with Iran to build a thermo-electric power plant in the country sometime in the future.
Central Bank of Ecuador president Carlos Vallejo said Iran would lend 40 million dollars to Ecuador's National Financial Corporation for the purpose of promoting small- and mid-size businesses.