YEREVAN, NOVEMBER 6, ARMENPRESS: The Republic of Armenia and the Islamic Republic of Iran are planning to build the most powerful hydro power plant in the South Caucasus namely Meghri hydro electric power station by the efforts  made from Armenian part and "Gharachilar"  HPP from  Iranian part. Lusine Harutyunyan, Public Relations and Information department head, Ministry of Energy and Natural Resources stated in the briefing with Armenpress in accordance with the arrangement reached in the frame of Armenian- Iranian intergovernmental commission , ground breaking of Meghri hydro electric power station is scheduled for November 7.

Accordingly with the preliminary agreement , each of the stations is set to produce 793 million kW / h of electricity. Megri HPP capacity is estimated 130  MW. The construction will last for five years and will cost $323 million , which will be invested by Iranian investment company. Armenia is scheduled to return the invested money in 15 years time by supplying electricity through Meghri HPP's 230 kV voltage transmission lines built by Iranian company.