Under the Eur1.2bn ($1.8bn) deal, Mapna will build a plant with capacity of 1,900MW of power and 3,160 tonnes an hour of steam.

The power and steam from the plant will supply petrochemicals projects at Assaluyeh, in Bushehr province in the south of the country.

The project is 80 per cent funded by NPC with the remaining 20 per cent provided by Mapna. The construction of the plant is expected to take five years.