Moscow: Russia and Iran signed a landmark agreement on Friday to construct four advanced, third-generation nuclear power plant units, valued at $25 billion. This ambitious project is set to take place in Hormozgan Province, located in southeastern Iran, and will span an area of 500 hectares.

According to Qatar News Agency, the agreement is part of a strategic effort to bolster joint cooperation in the peaceful use of nuclear energy between the two nations. The signing ceremony featured notable representatives, including Dmitry Shiganov from REP, a subsidiary of Rosatom, and Nasser Mansour Shariflou from Iran Hormoz Company, representing the Atomic Energy Organization of Iran.

Each of the planned nuclear power plants will boast a capacity of approximately 1,255 megawatts, bringing the total capacity of the four plants to a substantial 5,020 megawatts. This development reflects a significant step forward in the energy collaboration between Russia and Iran, with potential implications for the region's energy landscape.