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.
