Azarakhsh is a special-purpose entity established for construction, development and operation of Aliabad Gas Power Plant, located in Aliabad Katoul in north-eastern province of Golestan. The power plant was constructed by a BOO scheme, and comprises six units each with 162 MW and total nominal capacity of 972 MW, and is convertible to combined cycle power plant. Azarakhsh Power Plant Company was established by MAPNA and Sana Companies as sponsors and is assigned with management of power plant construction and operation.

The Company is mainly involved in investment and partnership in generation and sale of electricity through setting up of steam, hydroelectric, gas, combined cycle and New Energy power plants in compliance with and full observation of relevant laws and regulations. The EPC contract of this project was signed between Azarakhsh Project Company and MAPNA Power Plant Construction and Development Company (MD-1 Company) in 2008. Iranian Bank of Industry and Mine has covered the resources as the agent bank. Power plant enjoys V94.2 type (version 5) turbine manufactured by MAPNA and a BOO scheme. The contractor was to complete the project within 36 months beginning from start of the project. All units of the power plants have been synchronized with national electricity grid and become operative.