Iran, Armenia to start construction of joint power plant in 2 months
By Milad Fashtami - Trend:
"The studies for Meghri station are still underway," he said.
"Iranian contractors are expected to construct the power plant," he added.
The joint Iranian-Armenia project was proposed in 1990s and was discussed between Iranian and Armenian authorities. Intergovernmental agreements between Armenia and Iran were signed in 2007 and 2008.
On 14 April 2009, energy ministries of Armenia and Iran signed a memorandum on financing construction of the Meghri power station of Armenian side. The dam and power stations construction contract was signed on 16 October 2010.
The construction operation of the project started two years ago, but the project was halted due to bank transfer problems between Iranian and Armenian banks.
Iran and Armenia have taken major strides towards widening and deepening of their relations in recent years, particularly in the economic sector.
The trade turnover between the two neighboring countries hit $293 million in 2013.
Armenia was the 28th biggest trading partner of Iran in the previous Iranian calendar year, which ended on March 20, 2014, according to the Iran Customs Administration.
Iran exported $105.6 million worth of non-oil goods to Armenia and imported $28.9 million worth of non-oil goods from the country.