TEHRAN, Oct. 2 (Xinhua) -- Iranian Mapna Group Company signed a Memorandum of Understanding (MoU) with Syrian Public Establishment of Electricity for Generation (PEEG) on Tuesday for constructing a 540 megawatt (MW) combined cycle power plant in Syrian port city of Latakia, Tehran Times daily reported.
The MoU was signed by PEEG's Managing Director Mahmoud Ramadan and MAPNA Group's Managing Director Abbas Aliabadi on the sidelines of a meeting between Iran's minister of energy and his Syrian counterpart in the capital Tehran.
Based on the MoU, the 411-million-euro (474-million-U.S. dollar) project will start in the beginning of 2019.
The first gas unit of the power plant is expected to be completed in 15 months and the second one will be built in two years.
The power plant's feed stock will be supplied from Syria's gas fields through a 70-kilometer pipeline.
