Iranian private sector consortium invests USD 571mln. in Armenia, according to Iranian Minister of Energy.

As Majid Namjoo noted, the means will be allocated for construction of electricity transmission third line and hydropower plant on River Arax, IRNA agency reported.

Iranian Minsiter also noted Iran’s intention to build a new gas pipeline to Armenia in exchange for Armenian electricity.

Cooperation agreement in economic and energy sectors was concluded in the framework of Iranian President Mahmoud Ahmadinejad’s visit to Armenia, December 23.