MNA � Head of Thermal Power Plants Holding Company Mohsen Tarztalab announced that, according to a contract, some part of the required finance for revival of Rey power plant, South of Tehran, will be supplied via swapping of crude oil.

�Initially, the power plant was planned to be renovated via Japanese finance, however, due to the imposed US sanctions the plant is to be renovated by swapping oil,� he said.

�It is a 500-million-euro project,� Tarztalab said, �The contractor and employer will negotiate and decide about how much of the required finance will be supplied via swapping oil.�

�The affiliated contract will be signed next week,� he added.