Officials of Iran and Zimbabwe have signed a US$200M agreement to develop a hydroelectric power plant in the African country.
The Islamic Republic News Agency reports that the agreement was signed in Zimbabwe’s capital city Harare by the managers of Zimbabwean company ZESA and Iranian company Farab, who are both affiliated with the energy ministries of their respective countries.
Based on the four-year accord, Iran will build two units of the Kariba power plant to generate a total of 300MW. It is the largest project ever committed by the ministry in a foreign country in terms of both cost and capacity.
Iran’s Ambassador to Zimbabwe Hamid Moayyer, the country’s Deputy Energy Minister Reza Amrollahi and Zimbabwean Minister of Mines Amos Midzi were present at the signing ceremony.