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ITAR-TASS, Russia
November 8, 2012 Thursday 11:50 PM GMT+4
Armenia, Iran begin construction of hydropower plant on Arax river
YEREVAN November 8
Armenia's President Serzh Sargsyan on Thursday attended a ceremony of
laying down the foundation stone of a new hydropower plant, which this
country is building together with Iran on the Arax river forming a
natural border between them.
The plant will have a design capacitance of 130 megawatt and the
output capacity of 800 million kilowatt/hours of electricity a year,
Armenia's Minister of Energy and Natural Resources Armen Movsessian
said.
His Iranian counterpart, Majid Namjoo-Motlagh praised the project
saying: "Diplomacy through the utilization of water resources and
hydro technologies will give an opportunity to bring peace, stability
and prosperity to the region."
Yerevan and Teheran plan using an original pattern of financing and
subsequent operation of the hydropower plant. Bilateral agreements
suggest the Iranian private company Tavan AbAraz, which is acting as
an investor, has the power to search for the sources of financing
independently and to resolve all the problems pertaining to
organization.
Electricity produced at the plant will be supplied to Iran over a
period of fifteen years by a high-voltage transmission line that will
also be built by Tavan AbAraz. The Iranian government has agreed to
purchase electricity from the investor during the entire period of
recoupment.
Upon the completion of the fifteen years, the Arax plant will be
handed over to Armenia's ownership free of charge. The
electromechanical equipment and hydroengineering facilities the plant
will have gotten by that time will be supposed to have a service life
resource for another thirty years.
November 8, 2012 Thursday 11:50 PM GMT+4
Armenia, Iran begin construction of hydropower plant on Arax river
YEREVAN November 8
Armenia's President Serzh Sargsyan on Thursday attended a ceremony of
laying down the foundation stone of a new hydropower plant, which this
country is building together with Iran on the Arax river forming a
natural border between them.
The plant will have a design capacitance of 130 megawatt and the
output capacity of 800 million kilowatt/hours of electricity a year,
Armenia's Minister of Energy and Natural Resources Armen Movsessian
said.
His Iranian counterpart, Majid Namjoo-Motlagh praised the project
saying: "Diplomacy through the utilization of water resources and
hydro technologies will give an opportunity to bring peace, stability
and prosperity to the region."
Yerevan and Teheran plan using an original pattern of financing and
subsequent operation of the hydropower plant. Bilateral agreements
suggest the Iranian private company Tavan AbAraz, which is acting as
an investor, has the power to search for the sources of financing
independently and to resolve all the problems pertaining to
organization.
Electricity produced at the plant will be supplied to Iran over a
period of fifteen years by a high-voltage transmission line that will
also be built by Tavan AbAraz. The Iranian government has agreed to
purchase electricity from the investor during the entire period of
recoupment.
Upon the completion of the fifteen years, the Arax plant will be
handed over to Armenia's ownership free of charge. The
electromechanical equipment and hydroengineering facilities the plant
will have gotten by that time will be supposed to have a service life
resource for another thirty years.