Tehran, Baku to build power plants at joint dams

Business Materials 16 March 2015 17:44 (UTC +04:00)

Baku, Azerbaijan, Mar. 16

By Fatih Karimov - Trend:

Iran and Azerbaijan have agreed to build power plants at two joint dams.

The power plants will be built at Khoda Afarin and Qiz Qalasi dams on Araz river, Iranian ambassador to Azerbaijan Mohsen Pakaeen told Trend March 16.

The two countries have reached agreement by 85 percent, he said, adding that once the agreement is finalized, installing electricity generation turbines will start.

Iran's deputy energy minister Houshang Falahatian said in February that Iran seeks to import 500 megawatts (MW) of electricity from Azerbaijan.

The Islamic Republic currently trades power with Turkey, Azerbaijan, Armenia, Turkmenistan, Pakistan, Afghanistan, and Iraq.

Trade turnover between Iran and Azerbaijan has surpassed $405.63 million during the first ten months of current Iranian fiscal year (March 21, 2014-January 21), 6.37 percent less compared to the same months of the preceding year.

Iran has exported $387.78 million worth of goods to Azerbaijan during the period, which indicates a fall by 5.72 percent year on year, the Iranian Customs Administration said in its detailed monthly report published Feb. 4.

The Islamic Republic exported some 1.692 million metric tons of goods to Azerbaijan during that period which is 24.93 percent less compared the 10-month period of last year.

Edited by CN