OIL-PROCESSING FACTORY CONSTRUCTION TO LAUNCH IN 2009 IN ARMENIA

PanARMENIAN.Net
27.03.2009 18:55 GMT+04:00

/PanARMENIAN.Net/ Energy Ministers and BSEC workgroup have agreed on
construction of Meghri hydroelectric power station construction and
Oil-processing factory in Armenia, RA Minister of Energy and Natural
Resources Armen Movsisyan reported.

According to him, Iran plans to invest $280 million into HPS Meghri
construction, with Armenia to pay off with energy. Construction
works are already launched – tunnel laying for the station will start
before summer. Meghri HPS construction is scheduled to be completed
in 5 years.

Draft project on oil-processing factory construction in Armenia has
been passed. The factory, planned as joint Armenian-Iranian venture
is estimated at $250-280 million. According to Movsisyan, 1st work
package of construction will commence within current year.