Hydropower plant construction to boost Yerevan-Tehran ties - MinisterNovember 8, 2012 - 18:03 AMT PanARMENIAN.Net - Meghri hydropower plant construction will give renewed impetus to the development of Armenian-Iranian economic relations, President Serzh Sargsyan and Iran’s Minister of Energy Majid Namjoo said. Iranian minister also voiced readiness to continue cooperation with Armenian side in implementation of joint energy projects. Armenia and Iran signed an agreement on hydropower plant construction on River Arax in 2007, the document being ratified by both parliaments in 2008. On December 23, 2011, presidents of both countries instructed the ministers to launch implementation of strategic projects on construction of oil pipeline, Iranian-Armenian railway, and hydro station on River Arax. Armenia and Iran have agreed to build the two most powerful hydropower plants in the South Caucasus, with the HPPs to be located in Meghri on the Armenian side and Karachilare – on the Iranian side. Each of the plans will annually generate 793 mln kWh electricity, with the Meghri station construction estimated at USD 323 mln. After completion of the construction, Iranian Farat-Sepasat company will assume the operation of the plant for 15 years, with the electricity to be supplied to Iran to cover-up the investments of the Iranian side. After the mentioned period, Armenia will take up the operation of the plant. Armenian-Iranian joint technical committee will coordinate the construction works. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Lithuania sending €100,000 to help Armenia fight floods consequences Armenian Prime Minister Nikol Pashinyan took to social media to thank his Lithuanian counterpart for the contribution. Armenia: Rescue workers restore pedestrian bridge for flood-hit community Rescue workers on Wednesday, June 5 restored a pedestrian bridge in the town of Alaverdi in Armenia’s north. U.S. “deeply troubled” by Azerbaijan's arrest of civil society members The United States is deeply troubled by the continued arrest of members of Azerbaijani civil society, Matthew Miller has said. Turkey condemns Uruguay’s recognition of Armenian Genocide Turkey has condemned a newly passed law in Uruguay that recognizes the Armenian Genocide, TRT reports. |