The groundbreaking ceremony for the two Armenian-Iranian hydropower plants on Araks River will take place today. The events will be attended by President Serzh Sargsyan and other officials from Armenia and Iran.
The HPPs will have a capacity of 260 MW; one of the plants will be on the Iranian territory (Ghare Chiler) and the other in Armenia (Meghri).
The construction of the HPPs, estimated to cost about $330 mln, will be financed by the Iranian side. Armenia will return the invested money in 15 years time by supplying electricity through Meghri HPP’s 230 KV transmission lines.
The groundbreaking ceremony was initially scheduled for August 22, but was delayed because of the earthquake that hitIranin August 12.