MEGHRI HYDRO POWER PLANT TO BE BUILT BY IRANIAN COMPANIES

/ARKA/
April 17, 2009
YEREVAN

Meghri hydro power plant will be built by Iranian companies, Armenian
Minister of Energy and Natural resources Armen Movsisyan said as
quoted by Armenian TV channels.

The Minister summarized the results of the visit of Armenian President
Serzh Sargsyan to Iran at a press conference.

The Minister reported that, according to an agreement reached, Meghri
hydro power plant will be built by Iranian companies. The investments
will be then made up for in a form of electricity, he said.

Another agreement reached envisages maximal use of Armenian labor force
in implementing the investment projects and use of Armenia’s potential
in construction of infrastructures, including Iran-Armenia railroad.

On March 19, 2007, Armenia and Iran signed an agreement on construction
of two hydro power plants on borderline Araks River. The capacity of
each of the plants is to be 140megawatt.

Construction of Meghri hydro power plant is to cost about $240mln.