February 6, 2013 - 21:09 AMT
PanARMENIAN.Net - Today, on Feb 6, Armenian National Assembly adopted the draft laws, discussed on Feb 5.
Armenian Deputy Minister of Energy and Natural Resources Ara Simonyan briefed on the protocol on making amendments to the Armenian-Iranian agreement envisaging construction of a hydroelectric plant on River Arax.
He noted that in 2007 Armenia and Iran signed an agreement on hydropower plant construction in Meghri on the Armenian side and Karachilare – on the Iranian side. In 2009, Armenian-Iranian memorandum of understanding was signed on Meghri hydropower plant funding project, with Tehran expressing readiness to purchase electricity from the Iranian investor throughout the investment refund period.
On November 8, 2012 laying of the foundation stone of Armenian-Iranian Meghri hydropower plant took place Armenia’s Syunik province with President Serzh Sargsyan and head of Armenian-Iranian intergovernmental commission on economic cooperation, Iran’s Minister of Energy Majid Namjoo present.
The plant is planned to be put into operation in five years. 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.