ARMENIAN-IRANIAN-RUSSIAN COOPERATION

ARKA News Agency, Armenia
Oct 25 2007

YEREVAN, October 25. /ARKA/. The construction of an oil refinery in
Armenia will be a good field for Armenian-Iranian-Russian cooperation,
stated in his interview to the Public Television of Armenia.

He said that he construction project is under discussion.

Akhmadinejad pointed out that the sides are currently discussing
the location and terms of construction. The Iranian President made
a positive appraisal of the bilateral negotiations and said that the
results of consultations are needed for an agreement to be signed.

"We should not forget that the oil refinery will be of regional
importance, as its products will meet not only Armenia’s needs,"
Akhmadinejad said.

RA Minister of Energy Armen Movsisyan reported that a feasibility
report of an oil refinery in Armenia is to be ready by the end of
this year. Iranian and Russian specialists are involved in the work.

The oil refinery is expected to be constructed in Meghri, Syunik
region, near the Armenian-Iranian border. Experts estimate the project
at $1.7bln, with the transport infrastructure estimated at $1bln.