Oil-processing factory construction to launch in 2009 in Armenia

March 27, 2009 - 18:55 AMT
PanARMENIAN.Net - Energy Ministers and BSEC workgroup have agreed on construction of Meghri hydroelectric power station construction and Oil-processing factory in Armenia, RA Minister of Energy and Natural Resources Armen Movsisyan reported.

According to him, Iran plans to invest $280 million into HPS Meghri construction, with Armenia to pay off with energy. Construction works are already launched - tunnel laying for the station will start before summer. Meghri HPS construction is scheduled to be completed in 5 years.



Draft project on oil-processing factory construction in Armenia has been passed. The factory, planned as joint Armenian-Iranian venture is estimated at $250-280 million. According to Movsisyan, 1st work package of construction will commence within current year.
 Top stories
Armenia dismisses Turkey’s demand to shut down nuclear plant as “inappropriate”Armenia dismisses Turkey’s demand to shut down nuclear plant as “inappropriate”
Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”.
Armenia to loan AMD 2.9 billion to KarabakhArmenia to loan AMD 2.9 billion to Karabakh
Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision.
Azerbaijan opposes Armenia’s plans to build new metallurgical plantAzerbaijan opposes Armenia’s plans to build new metallurgical plant
The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision.
Armenia attracts record amount of foreign direct investments, says MinisterArmenia attracts record amount of foreign direct investments, says Minister
Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.
Partner news
 Articles
4 rules for business success

An ultimate guide

 Most popular in the section
Armenia's international reserves grew by 8.9% in 2022
IDBank to participate in Career City Fest 2023
Armenia-Iran trade grew 45% in January-October – official
Shell already in Armenia: First fuel stations put into operation
Home
All news
Overview: Economy
Archive for March 27, 2009
Other news in this section
  Related sections
Arts & Showbiz
 Latest news
Erdogan wants “realistic road map” for relations with Armenia Turkish President Recep Tayyip Erdogan has called for a “new realistic road map” for relations with Armenia.
Armenia-Azerbaijan: Experts launch work on determining coordinates Expert groups from the countries started the process of determining the coordinates based on geodetic measurements.
Yerevan says did not expect CSTO in peacekeeping role Pashinyan has declared that the CSTO would be expected to come to the Armenia-Azerbaijan border as an ally of Armenia
Henrikh Mkhitaryan wins Serie A title with Inter Inter Milan midfielder Henrikh Mkhitaryan admits that the team have long been imagining clinching Serie A against AC Milan.
---