Korea Electric Power Corporation (Kepco), the largest electric utility in South Korea, plans to set up a 1,000 megawatt capacity power station in Iran, a report said.

Hank Hahm, the CEO of Kepco, said that the company is prepared to build a power plant in the south eastern Iranian city of Chabahar, added the Iran Daily report, citing Tasnim News Agency.

In a meeting with officials from Chabahar Free Zone Organization, Hahm added that the project can be developed on the basis of BOT (Build-Operate-Transfer) contract, said the report.

Kepco is active in the generation, transmission and distribution of electricity and the development of electric power projects including those in nuclear power, wind power and coal.