By Xinhua

TEHRAN, Nov. 8 (Xinhua) -- Iran and Armenia have started the construction of a joint hydroelectric power plant on the Aras River, Press TV reported Thursday.

The ground-breaking ceremony was held Wednesday with the participation of Armenian President Serzh Sargsyan and Iranian Energy Minister Majid Namjou.

With the completion of the project, some 1,700 megawatts of electricity will be generated annually for domestic use in Iran, said managing director of Iran's East Azerbaijan Regional Water Company, Arsalan Hashemi, according to the report.

The project, constructed simultaneously in Armenia's Meghri and Iran's Qarachilar regions, is financed with 560 million and 500 million U.S. dollars in credits respectively from Armenia and Iran, said Press TV.

 

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