Investment for Construction of Megri Hydro Procured

YEREVAN (Noyan Tapan)–The Armenian government is working hard to improve the Hydroelectric Power Plant (HPP) in Megri in order to attract foreign investmen’s for further construction of the Megri Hydro plant on the Arax River–bordering Iran. A number of specialists say that Meghri Hydro is the most promising of all the HPPs–and its projected capacity is 78.9 megawatts–the energy generation volume being 469mln. kw/h. The construction is expected to cost no more than $100 million.

Local observers say that the construction of the HPP–which is supposed to generate energy for both Armenia and Iran–plays not only important economically–but it is also important politically.

The Plant will be a means to further the development Armenian-Iranian relations–particularly concerning the borderline region Meghri–which is not only a concern for the Armenia’s and the Iranians but also the Russia’s. Both Russia and China are very interested in the construction of Meghri Plant.

A the previous Forum on investment in Armenia’s economy held in New York and attended by Armenian President Robert Kocharian–the hydro-energy project was the largest presented project–which involved about 40 small–two medium-sized–and three large HPPs–one of them being Meghri Hydro.

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