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By Trend

Iran’s energy ministry is implementing $3 billion worth projects abroad, the Islamic Republic’s Energy Minister Hamid Chitchian said.

The companies affiliated with the ministry are exporting engineering services to 40 countries in water and power sectors, Chitchian said, IRNA news agency reported on September 25.

Chitchian added that the companies share over 90 percent of Iran's engineering exports.

He further said that the energy ministry seeks to transfer modern technologies into the country, adding that Iran’s energy sector enjoys high capabilities for engineering and technology export.

A comprehensive plan for boosting non-oil exports envisions increasing Iran's engineering service export to $17 billion by the end of the current Iranian fiscal year (March 20, 2017).

This figure is to hit $23 billion by 2020 and $35 billion by 2025.

However, Mohammad Reza Ansari, director of the Association of Iranian Exporters of Technical and Engineering Services said in June that Iran is expected to export $5 billion worth of technical and engineering services during the current fiscal year.

The value of Iran’s annual technical-engineering exports stood at $2.9 billion during the fiscal year to March 2015. Energy sector technical-engineering exports shared 88 percent of the figure.

Last year Chitchian said 236 projects, worth over $1.6 billion, have been implemented in 27 countries so far. Moreover, 90 other projects, worth over $2.4 billion, are being negotiated, he added.

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