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Armenia and Iran to construct hydroelectric power station over Araz River

25 October 2012 13:21 (UTC +04:00)

Baku. Anakhanim Hidayatova â€“ APA. Construction of hydroelectric power station over Araz River in Armenian Mehri village bordering on Iran, will start within next 10-15 days, said the Armenian Minister of Energy and Natural Resources Armen Movsisyan, APA reports quoting Armenian website.

The Minister said that Armenia and Iran would construct HPSs in the both sides of the border. One of them will be constructed in Mehri, other â€“ in Garachilar village. Carrying out the construction works the same time will cause reduction of expenses by 10-15%.

Every station will produce 793 mln kVt/hour in a year. Mehri HPSâ€™s capacity will make 130 MVt. Construction works will last 54 years, project is valued at $323 mln and this will be financed by Iran Investment Company.

After completion of construction, Mehri HPS will be exploited by Iranian Farat-Sepasat Company for 15 years and produced energy will be transported to Iran. So, Armenia will repay Iranâ€™s investment. Thereafter, the station will be exploited by Armenia.