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Two hydro power plants (HPPs)—namely, Meghri and Gharachikar—will be built on the Arax River and with Armenian-Iranian cooperation.

The groundbreaking ceremony of Meghri HPP was held Thursday on the Armenian side of the border, and Armenian President Serzh Sargsyan, Iran Energy Minister Majid Namjoo, and Armenia’s Energy and Natural Resources Minister Armen Movsisyan were on hand at the event.      

In his remarks, Movsisyan informed that Meghri HPP will have an installed capacity 130 megawatts and produce about 800 million kW/h electricity per year. He added that the plant will be constructed in compliance with the internationally accepted environmental standards. 

The investor from the Iranian side is Tavan Ab Araz Company which, in line with the already-signed agreement, will resolve all matters connected with Meghri HPP’s construction and starting of its operation. The construction will be carried out within five years and, fifteen years thereafter, the plant shall be transferred to the Armenian side at no cost. Also, an agreement is reached whereby solely local manpower will be used for the plant’s construction.         

“I extend my thanks to Armenia’s President Serzh Sargsyan for attending this ceremony. Armenia has a special position and place in Iran’s foreign relations. The Government of Iran stands ready to consider any cooperation proposal by Armenia in the hydro energy sector,” Iranian Energy Minister Majid Namjoo stated, in his turn.   

Subsequent to the groundbreaking ceremony, President Sargsyan and Iran’s minister held an approximately thirty-minute private talk.

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