Iran and Armenia will build on the Araz River the largest hydroelectric power station in the Caucasus, Iranian agency IRNA quoted Armenian Energy and Natural Resources Deputy Minister.
"The hydroelectric power station will be built in Megrid on the Armenian side of the river and in Garachalar on the Iranian side," Armenian Energy and Natural Resources Deputy Minister Ara Simonian said.
The hydroelectric power station will produce annually 800 million kWh of electricity and will have no analogues in the South Caucasus, he said.
In order to execute this project, both countries will provide a place on the Araz River and will ensure safety of the station, Simonian said.
During construction there will be no restrictions for workers to enter and exit the two countries, he said.
Simonian added that the draft had been prepared and its implementation would be carried out upon signing a contract between Iran and Armenia.