TODAY.AZ / Business

Azerbaijan, Iran agree to step up activities on Khudafarin, Giz Galasi hydro junctions

06 July 2022 [17:25] - TODAY.AZ

By Azernews

By Ayya Lmahamad

Azerbaijan and Iran have agreed on the acceleration of the activities on the Khudafarin and Giz Galasi hydro junctions, Azernews reports.

The discussion on the topic took place during the meeting between Azerbaijan's Energy Minister Parviz Shahbazov with his Iranian counterpart Ali Akbar Mehrabian.

"In a wide-ranging meeting with Iran`s Energy Minister Ali Akbar Mehrabian, we agreed on the acceleration of the activities on #Khudafarin and #GizGalasi hydrojunctions, HPPs, and finalisation of the plants very soon. We had fruitful discussions in terms of the development of our cooperation in the field of energy," Shahbazov wrote on his official Twitter page.

During the meeting, the parties emphasized that this meeting will contribute to the development of jointly implemented energy projects.

They noted that the presidents attach special importance to the development of common historical and friendly relations between the two countries.

The sides also exchanged views on other issues on the agenda of energy cooperation between the two countries.

In 2016, Azerbaijan and Iran agreed to build the Khudafarin and Giz Galasi hydro junctions and hydroelectric power plants on the Araz River. They have a total capacity of over 1.6 billion cubic meters. It will have the capacity to generate 716 million kW-hour of electricity per year. These hydro junctions and hydroelectric power plants will allow both sides to share the Araz River's water and energy resources.

After liberating its lands from the Armenian occupation in the 44-day war in 2020, Azerbaijan regained control over a 132-km section of the Azerbaijani-Iran border. After regaining control over the state border, new prospects have become available for deeper cooperation between the two countries.

The trade turnover between Azerbaijan and Iran in 2021 was $440.8 million.

URL: http://www.today.az/news/business/222650.html

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