...

Azerbaijan, Iran officials review hydroelectric plants’ construction

Business Materials 24 February 2017 21:16 (UTC +04:00)
Officials from Azerbaijan and Iran reviewed the implementation of a project to construct the Khudaferin and Giz Galasi hydroelectric facilities on the Araz River on the Iranian side
Azerbaijan, Iran officials review hydroelectric plants’ construction

Baku, Azerbaijan, Feb. 24

Trend:

Officials from Azerbaijan and Iran reviewed the implementation of a project to construct the Khudaferin and Giz Galasi hydroelectric facilities on the Araz River on the Iranian side.

Azerbaijani delegation was headed by Economy Minister Shahin Mustafayev, who co-chairs the Azerbaijan-Iran State Commission for Economic, Trade and Humanitarian Cooperation, the Economy Ministry said Feb. 24.

Iranian delegation was headed by Communications and Information Technology Minister Mahmoud Vaezi, also a co-chair of the Commission.

In a meeting of the parties, Mustafayev reminded that during the visit of Azerbaijani President Ilham Aliyev to Iran on Feb. 23, 2016, an agreement was signed for cooperation in the use of water resources and continuation of construction and operation of the Khudaferin and Giz Galasi hydroelectric facilities on the Araz River.

Mustafayev said the agreement proclaims the principles of respect for sovereignty and territorial integrity of Azerbaijan and Iran, and equal rights for water and energy resources of Khudaferin and Giz Galasi hydroelectric facilities.

The agreement also highlights the need to restore the territorial integrity of Azerbaijan in accordance with the UN resolutions, he added.

Mustafayev stressed that the agreement is a result of successful foreign policy of Azerbaijan and an indicator of the country’s high prestige on international arena.

The agreement also reflects rapidly developing Azerbaijan-Iran relations based on the principles of friendship and good neighborliness, he noted.

Construction of the Khudaferin dam is already completed, while the construction of power plants is nearing completion, Mustafayev said, adding that Azerbaijan and Iran will be operating and implementing the project together.

The profit from the sale of electricity will be equally divided between Azerbaijan and Iran, he noted.

Tags:
Latest

Latest