Armenia and Iran on Thursday began construction on a joint hydro-electric power plant along their shared border.
Armenia’s President Serzh Sargsyan and Iran’s Energy Minister Majid Namjoo symbolically laid the first stone for the plant located on the Arax River near the southern Armenian town of Meghri.
“Hydro-diplomacy, which we use in our policy, plays a huge role today,” Namjoo told journalists at the opening ceremony.
The $323-million 130-megawatt plant is due to be completed in five years, and will supply energy to Iran for the first 15 years before being handed over to Armenia.
“This plant will play an important role in ensuring Armenia’s energy security,” Armenian Energy Minister Armen Movsisian told a news conference after the ceremony.