SteelGuru, India
March 28 2009

Iran to Armenia oil pipeline construction work begins

IRNA cited Mr Armen Movsisyan minister of energy and Natural Resources
of Armenian as saying that Iran to Armenia oil pipeline construction
work has begun.

Mr Movsisyan in a press conference in Yerevan declared beginning of
construction work of the pipeline and said that the pipeline will
transfer oil products such as gasoline and gas from Tabriz refinery to
Armenia.

Iran and Armenia reached a primary agreement on construction of a 300
kilometer pipeline from Iranian northwestern city of Tabriz to the
border city of Mughri, in Armenia in 2007.

Mr Movsisyan estimated the construction expenditure about USD 240
million which will be paid by Iran in the form of a loan.