Cost of establishing hydropower plant on border Arax river rises to $450-$500 million
30.05.2011,
20:49
The construction of a hydro-electric power plant on the border River of Arax separating Armenia from Iran was a subject of negotiations between Iranian and Armenian energy ministers Majid Namjoo and Armen Movsisyan.
YEREVAN, May 30. / ARKA /.The construction of a hydro-electric power plant on the border River of Arax separating Armenia from Iran was a subject of negotiations between Iranian and Armenian energy ministers Majid Namjoo and Armen Movsisyan, The Tehran Times reported. It said Armenian minister heads a delegation that is in Iran taking part in a recurrent session of the bilateral intergovernmental commission.
According to the plan, an 180-megawatt power plant will be built in Iran and another 180-megawatt power plant will be built in Armenia. Accordingly, a consortium comprised of Iranian companies is established to pursue construction of the power plant in Armenia at the cost of some 450-500 million dollars, according to Iranian minister.
Earlier estimates put the cost of the project at $323 million. The construction of the plant on the Armenian side will be financed by an Iranian investment company. Armenia will repay it by electricity exports.
The meeting of ministers was held on the sidelines of two countries’ joint economic committee meeting which is chaired by Iranian Minister of Foreign Affairs Ali Akbar Salehi and Armenian Minister of Energy and Natural Resources Armen Movsisyan. -0-
According to the plan, an 180-megawatt power plant will be built in Iran and another 180-megawatt power plant will be built in Armenia. Accordingly, a consortium comprised of Iranian companies is established to pursue construction of the power plant in Armenia at the cost of some 450-500 million dollars, according to Iranian minister.
Earlier estimates put the cost of the project at $323 million. The construction of the plant on the Armenian side will be financed by an Iranian investment company. Armenia will repay it by electricity exports.
The meeting of ministers was held on the sidelines of two countries’ joint economic committee meeting which is chaired by Iranian Minister of Foreign Affairs Ali Akbar Salehi and Armenian Minister of Energy and Natural Resources Armen Movsisyan. -0-
