ARMENIA, IRAN AGREE TO CONSTRUCT POWER PLANT
11 Apr 07
Yerevan, 11 April: Armenia and Iran have signed an agreement on the
construction of a new hydroelectric power plant on the River Araks
[Araz, near Armenia’s Meghri town bordering Iran]. Deputy Energy
Minister Areg Galstyan said this today at the American University
Galstyan said that the new plant’s capacity would be 140 MW with annual
production of 850m KW/h. That will be a serious project implemented
in the region, he stressed.
A scheme of funding the project is now being discussed. The project
costs about 150m dollars. It is expected that Iran will allocate the
sum as a credit in exchange of future supplies of Armenian energy.
It is expected that the construction of the plant will begin this year.