Under an MOU signed by Tehran and Yerevan, Iran is to be build a hydroelectric power plant in Armenia.
Iranian Energy Minister Hamid Chitchian has announced that Tehran and Yerevan have finalized an agreement on the construction of a hydroelectric power plant in Armenia.
“The Memorandum of Understanding (MoU) for building a hydroelectric power plant in Armenia has been finalized and the Iranian companies will start construction of the power plant soon,” Chitchian said in Tehran on Monday.
Recalling the hi-tech capabilities and the international reputation of Iranian water and power firms, he said Iranian water-management and power plant construction companies are active in 41 countries around the world and export a large amount of related products to other countries.
Iran and Armenia have taken major strides toward deepening their relations in recent years, particularly in the economic sector.
Chitchian and his Armenian counterpart Yervand Zakharian in a meeting in Tehran in October voiced willingness to enhance bilateral relations, particularly in the energy sector.