Germany plans to invest some €170 million (USD 194m) in a project to build a solar cell and panel factory in Iran, an official told journalists, as reported by local media.
Construction work on the facility in the Payam Special Economic Zone, Albroz province, is expected to begin in May 2016, Mohammad Ali Mokhtari, managing director of Payam Aerial Services Company, was quoted as saying. The plant will be built on a land plot of 200 ha (494.2 acres).
In early March, Iran's official news agency IRNA reported that Turkish investors will carry out a 80-MW solar energy project in Alborz province. The agency cited Ebadollah Kamkar, province deputy governor general for economic affairs, who said that in spite of earlier talks with German investors, a Turkish delegation undertook to realize the USD-60-million project.
(EUR 1.0 = USD 1.140)