Middle East Economic Survey


No 6



Petroecuador Confirms Iran Preparing To Build Ecuador Power Plant

Luis Jaramillo, President of Ecuadors state oil and gas company Petroecuador, confirmed in an interview withDow Jones last week that Iran has begun preparatory work on a proposed power plant in the country. He said that the first stage of a $280mn credit line extended by Iran to Ecuador last month is being utilized. The agreement calls for the construction of a 50mw capacity...