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NEWS » Economy » Construction of Meghri Hydropower Plant kicks off
Economy

Construction of Meghri Hydropower Plant kicks off

08.11.2012, 17:17
Armenian president Serzh Sargsyan traveled today to the southern Armenian town of Meghri, on the border river of Arax separating Armenia and Iran to attend a special ground breaking ceremony for the construction of hydropower plant with a capacity of 130 MW and at a cost of $ 323 million.
Construction of Meghri Hydropower Plant kicks off
YEREVAN, November 8. / ARKA /. Armenian president Serzh Sargsyan traveled today to the southern Armenian town of Meghri, on the border river of Arax separating Armenia and Iran to attend a special ground breaking ceremony for the construction of hydropower plant with a capacity of 130 MW and at a cost of $ 323 million. 

President Sargsyan was accompanied by Armenian energy and natural resources minister Armen Movsisyan and Iranian energy minister Majid Namjou.

According to the agreement, signed back in 2007, the hydroelectric power plant, which will straddle the border river, will have the capacity to produce 130 megawatts (MW) of electricity. Construction of the power plant began simultaneously in Armenia’s Meghri and Iran's Qarachilar. Each of the stations will annually produce 793 million kW / h of electricity. 

According to the Iranian minister, the construction will last for five years and is estimated to cost $323 million. He said the money will be invested by Iranian investment company.

According to his Armenian opposite number, this project will give an additional boost to economic development of the region and give also a fresh impetus to improving the efficiency of bilateral economic programs.

The feasibility work was done by Iranian consulting company Sagab-Gods, commissioned by the Iranian company for water and energy development under the supervision of the joint Armenian-Iranian technical committee.

The generated energy will be shipped to Iran via a 230 KW transmission line now under construction. After the facility is built it will be operated for 15 years by the Iranian Farat-Sepasat. The electricity will be supplied to Iran to pay off the Iranian investment. After 15 years of operation, the hydropower will become the property of Armenia. -0-
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