(Bloomberg) --

Iran started construction Saturday on a 300-megawatt nuclear power project in its southern oil-rich Khuzestan province.

The Karoun Nuclear Power Plant, also known as Darkhoveyn where the plant is located, is projected to take eight years and $2 billion to build, the state-run Islamic Republic News Agency reported.

The power station is based on so-called pressurized water reactor technology that’s the most commonly used in nuclear power plants around the world.

Initial plans to construct the Karoun plant date back to more than four decades ago. Once completed, it would join the 1,000-megawatt Bushehr plant, Iran’s only civilian nuclear power station in the south.

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