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Armenia hopes for Iranian credit to build hydro plant

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  • Armenia hopes for Iranian credit to build hydro plant

    Armenia hopes for Iranian credit to build hydro plant

    Interfax
    June 22 2004

    Yerevan. (Interfax) - Armenia is hoping to receive a credit from
    Iran to build a hydroelectric plant on the Araks river, the cost of
    which is estimated at $140 million, Armenian Energy Minister Armen
    Movsisian told journalists.

    He said that Armenia plans to repay the credit with supplies of
    electricity to Iran.

    The minister said that there are plans to build two identical
    hydroelectric plants on the Araks river - the Megrin Hydroelectric
    Plant on Armenian territory and the Karachilar Hydroelectric Plant
    in Iran. Movsisian said that in the coming two months a feasibility
    study would be prepared for the construction of Megrin Hydroelectric
    Plant. Construction is set to begin in mid-2005 and an agreement with
    Iran will be signed by the end of this year.

    The minister said that the plant will have a capacity of 140
    megawatts and will produce 841 million kWh of electricity per year.
    For comparison he said that 30 small hydro plants are operating in
    Armenia, producing a total of 600 million kWh of electricity per
    year. He said that the new plant would be the best in Armenia as
    regards its technical and economic parameters and in time it is planned
    to build a whole chain of plants on the Araks river together with Iran.

    The Armenian government and Energy Ministry are currently working on a
    program to develop alternative energy production, to ensure Armenia's
    security in the event of Armenian Nuclear Power Plant closing. The
    main emphasis in this program is being placed on developing hydro
    production.

    From: Emil Lazarian | Ararat NewsPress
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