Iran plays key role in meeting Armenia’s energy needs: Armenian minister

TEHRAN,Nov.10(MNA) -- Armenian Energy Minister Armen Movsisian said that Iran plays a key role in meeting energy needs of his country. Addressing a press conference in Yerevan on the sidelines of Iran-Armenia joint economic committee meeting, the official said that the two sides agreed on new plans to boost bilateral trade. Armenia and Iran on Thursday began construction on a joint hydro-electric power plant along their shared border as the two neighbors sought to boost economic ties. Armenia’s President Serzh Sargsyan and Iran’s Energy Minister Majid Namjoo symbolically laid the first stone for the plant located on the Aras River near the southern Armenian town of Meghri. 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,” Movsisian said. Armenia and Iran last month vowed to increase economic cooperation, boost bilateral trade and speed up joint projects including the hydro-electric plant, a third power transmission line between the countries and a railway link.