Nicosia, July 22: The Iranian government announced today its decision to proceed with the privatization of ten power plants.

The process will start in two weeks time and will be completed by next March, the Minister of Energy Parviz Fattah told journalists.

Fattah said that gradually 80 power plants would be handed to the private sector and added: “At present, the privatization of ten power plants is being finalized. We have completed our part of the process and it is now up to the Ministry of Economy and Finance and Iran''s Privatization Organization to decide about the rest," Fattah told the Mehr News Agency.

The Minister added that the private sector is constructing a number of power plants and said that currently the private sector generates 3000 MW of electricity.

Meanwhile, the cabinet has approved 1,665 billion rials from Iran Power Development Company''s funds for developing Kashan''s combined cycle power plant. (ANI)