CONTRUCTION OF OIL PIPLELINE, OIL TERMINAL IN ARMENIA ESTIMATED AT $240-260MLN
ARKA
March 20, 2009
YEREVAN, March 20. /ARKA/. The construction of an oil pipeline and
oil terminal is estimated at $240-260mln, RA Minister of Energy Armen
Movsisyan told ARKA.
"The figure will be specified after the project work has been completed
in two months," he said.
The Minister said that the work is under way and field operations
will be launched this year.
"I mean the construction of platforms, transportation and pipe
welding," the Minister said.
Movsisyan pointed out that an oil refinery may form part of the
oil complex.
"The issue is regularly discussed. It will be an Armenian-Iranian JV.
The funds are being attracted from Iran provided they are returned
in the future," the Minister said.
In his earlier interviews, Minister Movsisyan stated that Armenia and
Iran reached an agreement on the construction of an oil terminal in
Yeraskh, Armenia. Petrol and diesel fuel is to be piped to Yeraskh
from Tabriz, Iran, for further distribution in Armenia.