Korean builder SK Engineering & Construction has clinched a 4.1 trillion won ($3.6 billion) contract to build and operate new power plants in Iran, according to a report.
Under this deal, SK E&C will start building a 1,200- and a 800-megawatt power plant at Saveh and Zahedan, respectively from next January, reported Korea Times.
The remaining three plants are expected to be built depending on the construction progress of the Saveh and Zahedan sites, it stated.
As part of the strategic agreement, SK E&C has purchased a 30 per cent stake in Unit International, Turkey's energy giant.
With this move, SK E&C will be able to participate in the Turkish firm's ongoing project in Iran, said the report, citing a top official.
"The construction work will be completed in 30 months, and SK E&C aims to test run them by the end of 2020," remarked its president Ahn Jae hyun.
"This is the largest private power project ever in Iran," he added.