Yerevan and Tehran have finalized an agreement on the construction of a hydroelectric power plant in Armenia, Iranian Energy Minister Hamid Chitchian said.

“The Memorandum of Understanding (MoU) for building a hydroelectric power plant in Armenia has been finalized and the Iranian companies will start construction of the power plant soon,” he said.

He noted Iranian water-management and power plant construction companies are active in 41 world states and even export a large amount of related products to other countries, Fars agency reported.

As reported earlier, Iran and Armenia decided to open a third power energy transmission line and intensify the works on building hydroelectric power plant on the Aras river during a meeting of Hamid Chitchiani with Armenia’s Energy and Natural Resources Minister Yervand Zakharyan in October.