Yerevan/Mediamax/. Construction of the pipeline for importing oil products from Iran to Armenia will be initiated in fall, 2010.

Mediamax reports that the Minister of Energy and Natural Resources of Armenia Armen Movsisyan said this today.

The cost of the project will make $160-180mln, and each of the sides will provide 50% of the necessary means. At the same time, according to the reached agreements, all investments in construction works will be realized by the Iranian side, and the Armenian side will contribute its share from future dividends from operating the pipeline.

Armen Movsisyan noted that the new pipeline will allow importing petrol and diesel fuel to Armenia at prices, which are in effect in countries of the Persian Gulf.

He informed that operation of the pipeline will be realized by private companies, selected on the basis of a tender.

This year, construction of the high voltage line from Armenia to Iran will also be initiated, just like construction of a joint HPP in Meghri town. The cost of the projects will make 100mln EUR and $350mln respectively.