A group comprising Iranian, Indian and South Korean companies plan to establish an energy park in Iran’s Khuzestan province in a project worth $10 billion, a report said.

The project will include generation of 1,000 megawatts of solar power, the IRNA news agency has reported, citing Press TV.

Enterprise Company has also proposed to build gas-powered and combined cycle plants to produce 600 megawatts of electricity, Suresh Sharma, coordinator and head of GTPP Oil and Gas, was quoted as saying in the report.

Iranian project owners have announced readiness to undertake 30 per cent of investment and the foreign side to provide the rest of the funds, the report said.

Representatives of the consortium visited provincial authorities on Sunday to outline their plans, the news agency said.