The hydroelectric dam will be built on the Aras River, situated proximal to the southern Meghri town on the Iran-Armenia border.
Governments of the two countries signed an agreement that stipulates a hydro power complex to feature the two 130MW Ghare Chiler and Meghri power stations on the Iranian side and Armenia side respectively.
Each station is projected to generate 793 million kwh of electricity annually with construction expected to be completed five years from the date of commencement, at an entailed cost of $323m.
An Iranian investment company will invest in the project, while Farab Sepasad Company will undertake the construction.
