Armenia, Iran Agree To Construct Power Plant

ARMENIA, IRAN AGREE TO CONSTRUCT POWER PLANT

Arminfo
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
of Armenia.

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.

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