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Iran to invest $571 mn in Armenia
IANS | Tehran, December 27, 2011 12:59
Tags : Tehran | Iran | Armenia | hydro power project | Yerevan | Aras river |
Tags : Tehran | Iran | Armenia | hydro power project | Yerevan | Aras river |
An Iranian private sector consortium will invest $571 million in two hydro-power projects in neighbouring Armenia, Xinhua reported Monday.
The announcement comes following President Mahmoud Ahmadinejad's visit to Armenia Friday. Both sides have agreed to build hydro-power plants on the Aras river.
Iran will also set up a pipeline to supply gas to Armenia, and in return, Yerevan will give electricity to Iran.
The pipeline is expected to cost $240 million.
Issue Dated: Feb 5, 2017
