The Islamic republic is seeking to reduce its reliance on oil and gas with 20 nuclear facilities planned over the coming years, including nine being built with Russian firms.
"Operations to build two new nuclear power (units) in Bushehr will start on 10 September and it will take 10 years for the power (units) to be completed," Ali Akbar Salehi said, according to the state-run IRNA news agency.
He said the new reactors would cost an estimated $10 billion and lead to a saving of 22 million barrels of oil per year.
In November 2014, it signed a "cooperation contract" to help build the two new reactors on the same site, along with plans to eventually construct nine reactors across Iran.
Two of these may also come up at Bushehr, taking the total number of reactors at the site to five.
Iran signed a July 2015 nuclear accord with the United States, Britain, China, France, Germany and Russia that removed some international sanctions in return for curbs on Tehran's controversial atomic programme.
Tehran repeatedly fended off Western and Israeli accusations that its programme was aimed at producing a bomb, insisting it is for purely civilian use.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
