Baku, July 10, IRNA-Azerbaijan State News Agency (Azar Press) reported here Saturday that Iran plans to build a terminal at its border with Armenia It added that Tehran will transfer oil derivatives to Yerevan adding the issue will be further explored at the Iran-Armenia Economic Cooperation Commission in Tehran in September.
Armenia views the terminal as important in boosting economic activity in the 'Magri' region bordering Iran, the agency added.
Iran and Armenia have signed a memorandum of understanding (MoU) to bolster bilateral cooperation in the field of electricity.
Under the MoU, Iran and Armenia reached consensus to implement the third 400-kw two-circuit transmission line project, valued at 90 million dollars.
The two countries are also slated to implement the second phase of Iran-Armenia pipeline project, worth 130 million dollars and the complementary project of the fifth unit of Hrazdan thermal power plant.
Under the framework of the agreement, Iranian companies of the Iran Power Plant Projects Management Company (MAPNA) and Sanir are due to add a new unit of gas power plant - capable to be transformed into combined cycle - to Armenia. The project is worth 150 million dollars.
Based on the accord, the implementation of the said project should be finalized in 2007.
Armenian Minister of Transport and Communication Andranik Manukyan called last week for taking advantage of special situation of the Iranian southern port of Bandar Abbas, capital of Hormuzgan province, and using it for transit of goods across the region.
Manukyan made the remarks in Yerevan, Armenia, in a meeting with visiting Governor General of the Iranian Hormuzgan province Ebrahim Derazgisou who arrived in the Armenian capital on Monday heading a trade delegation to discuss with Armenian officials ways to promote Tehran-Yerevan cooperation.
Derazgisou, for his part, welcomed the idea of promoting Armenia relations with the Iranian southern province and expressed hope that such relations would help promotion of ties between the two capitals.
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