BY THE END OF THE YEAR OR AT THE BEGINNING OF THE NEXT YEAR THE FIELD WORKS OF CONSTRUCTION OF IRAN-ARMENIA OIL PIPELINE AND TERMINAL WILL KICK OFF

ARMENPRESS
Oct 16, 2009

YEREVAN, OCTOBER 16, ARMENPRESS: By the end of the year or at
the beginning of the next year the field works of construction
of Iran-Armenia oil pipeline and terminal will kick off. Armenian
Energy and Natural Resources Minister Armen Movssisyan said today at a
press conference that the program will give an opportunity to import
necessary capacity of oil product to Armenia till Yeraskh through
oil pipeline coming from the Tabriz oil processing factory. In the
whole territory of the republic it will be consumed through cars and
railway. It will for several times decrease the transport expenditures
which are very expensive from Poti to Yerevan.

The minister noted that the situation of the railway does not let
moving big wagons and transportation with small ones brings to quite
large expenses.

The program will be implemented trilaterally Armenia-Iran-Russia. The
latter will participate in the program with 10%. According to initial
calculation the project will cost 200-240 million USD.