Wärtsilä and IDRO sign cooperation agreement to develop power generation in Iran
(Thomson Reuters ONE) -
Wärtsilä Corporation, Press release, 3 November 2016 at 2.00 pm EET
Wärtsilä and Industrial Development & Renovation Organization of Iran (IDRO),
the largest industrial corporation in Iran have signed a Memorandum of
Understanding (MoU) on October 29(th). The MoU was signed in connection to the
President of Finland Mr. Sauli Niinistö's recent visit to Iran. With this
agreement, both parties agree to cooperate on the development of decentralized
power generation in Iran, including power plant operations and maintenance
services and related liquefied natural gas (LNG) infrastructure.
Wärtsilä will provide relevant expertise and resources to support IDRO in its
objective to improve the infrastructure and develop the Iranian industry. In a
second phase this cooperation will be extended to the marine sector and the
Iranian shipping industry.
Currently IDRO owns more than 120 subsidiaries and affiliated companies
operating both domestically as well as internationally. Iran ranks among the two
biggest countries in the world when it comes to oil and gas reserves. The
country plans to investment more than one hundred billion USD in its oil and gas
industry in the next 5 years. The nominal capacity of power generation in Iran
is planned to grow by more than 25 gigawatts in the coming 5 years. This
progressive growth plan is needed in order to achieve the strategic targets of
further developing the Iranian industry, manufacturing skills and power plant
project execution.
"With this agreement, Wärtsilä is showing its commitment to support the
development of the Iranian industry and power generation sector, on the basis of
a mutually beneficial relationship," says Javier Cavada, President of Wärtsilä
Energy Solutions.
"Wärtsilä's proven capability to deliver high quality, efficient, and flexible
power solutions will support the ambitious development program of Iranian
industry. IDRO will play a key role in expanding industrial know-how and
localizing related competences," says Fardad Daliri, Executive Vice President
for IDRO Industrial Investment Development.
Link to images
Caption : The Memorandum of Understanding was signed by Mr Fardad Daliri,
Executive Vice President for IDRO Industrial Investment Development and Mr
Javier Cavada, President of Wärtsilä Energy Solutions. Photos provided by IDRO.
For further information:
Javier Cavada
President
Wärtsilä Energy Solutions
Tel: +358 50 4393952
javier.cavada(at)wartsila.com
Jukka-Pekka Niemi
General Manager, Marketing
Wärtsilä Energy Solutions
Tel: +358 50 465 2805
jukka-pekka.niemi(at)wartsila.com
Wärtsilä Energy Solutions in brief
Wärtsilä Energy Solutions is a leading global supplier of ultra-flexible power
plants of up to 600 MW operating on various gaseous and liquid fuels. Our
portfolio includes unique solutions for baseload, peaking, reserve and load-
following power generation, as well as for balancing intermittent renewable
energy. Wärtsilä Energy Solutions also provides utility-scale solar PV power
plants, as well as LNG terminals and distribution systems. As of 2016, Wärtsilä
has 60 GW of installed power plant capacity in 176 countries around the world.
www.smartpowergeneration.com
Wärtsilä in brief
Wärtsilä is a global leader in advanced technologies and complete lifecycle
solutions for the marine and energy markets. By emphasising sustainable
innovation and total efficiency, Wärtsilä maximises the environmental and
economic performance of the vessels and power plants of its customers.
In 2015, Wärtsilä's net sales totalled EUR 5 billion with approximately 18,800
employees. The company has operations in over 200 locations in more than 70
countries around the world. Wärtsilä is listed on Nasdaq Helsinki.
www.wartsila.com
About IDRO
Industrial Development and Renovation Organization of Iran (IDRO) is the leading
organization in charge of the country's strategic industrial development. Acting
as a government-owned holding company as well as an industrial development
agency, IDRO's main focus is on development of new, high-tech and export-
oriented industries. Leading industrial mega projects in the Iran, IDRO is
targeting development of specified industries and realization of strategic
industrial objectives.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Wärtsilä Oyj Abp via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 03.11.2016 - 13:00 Uhr
Sprache: Deutsch
News-ID 504830
Anzahl Zeichen: 5210
contact information:
Town:
Helsinki
Kategorie:
Business News
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