Russia signs $25B deal on Iran nuclear plant

Iran Hormoz Company and Russia's Rosatom Energy Projects signed an agreement on Friday to build a nuclear power plant consisting of four power units worth $25 billion in southeastern Iran, Azernews reports.

The power plant will be built on a 500-hectare site in Hormozgan province and the Sirik region.

The deal was signed by Iran Hormoz's representative, Nasser Mansour Shariful, on behalf of the Iranian Atomic Energy Organization and by Rosatom Energy Projects' representative, Dmitry Shiganov, on behalf of Russia.

It follows a memorandum signed between Russia and Iran on Wednesday, which outlined plans to construct several small nuclear power plants in Iran.