Meghri Hydroelectric Plant to be Built in 5 Years

The Government of Armenia today decided to approve the proposal to sign an agreement between the RA government and Iran’s Farad-Sepasad on permitting the construction of a hydrorelectric plant in Meghri based on the basis of construction, management, operations and transfer.

The RA Ministry of Energy and Natural Resources, authorized to act in the RA government’s name, signed the contract, as well as ensuring the protection of foreign investment into the project. Construction is planned to be completed within 5 years, after which hydroelectricity from Meghri will be sent to Iran for 15 years. After 15 years of supply to Iran, the hydropower will be transferred to Armenia. 

According to Armenian Prime Minister Tigran Sargsyan, this decision is the start of a huge, important investment program.