TEHRAN – Iran has begun to build a new nuclear power plant in the southern coastal province of Hormozgan with an investment of $15 billion, according to the head of the Atomic Energy Organization of Iran (AEOI).

During a visit to the Hormozgan province, Mohammad Eslami, at the behest of Iranian President Ebrahim Raeisi, announced the commencement of construction of the new nuclear plant in Hormozgan. 

The president launched the project via video call. He emphasized the significance of the power plant as a vital infrastructure for the country's economy and development, praising the efforts of skilled Iranian experts and expressing hope that the project would bring prosperity to the Iranian people.

Eslami highlighted that the project called “Iran-Hormoz”, is part of the country’s national plans to develop its nuclear industry over the next two decades. 

The Iran-Hormoz Plant is designed to have an electricity generation capacity of 5,000 MW and will consist of four 1,250-MW units, aligning with the implementation of the Makran coast development plan.

“By the year 2041, we should reach the generation capacity of 20,000 megawatts of nuclear electricity in the country, and the realization of this goal has been taken into consideration in the Makran coast of Hormozgan Province,” Iran’s nuclear chief said.

“It is hoped that it will be completed as planned and coordinated, and based on scheduled timing.”