EcoLur
The Armenian Government prolongs the terms for the construction of Meghri HPP for the Iranian side. It turns out that the construction term of the HPP has already been expired. On 16 September 2010 the Armenian Government approved the proposal to sign “Contract on Construction Permit of “Meghri” HPP on “Construction-Management-Service” transfer grounds” with its decision N 1237-Ն “On Cosntruction of Meghri HPP”. On these grounds, a permitting contract (Contract of Permit) was signed between the Armenian Government and Iranian “Tavan Ab Aras Company” Investment Company on 15 October 2010. The contract of permit shall enter into force within one year after its signing with an option to prolong it for another year. Nevertheless, all these timelimits expired on 15 October 2012. The Armenian Government will adopt a new decision on 28 February 2013, which will approve making amendments to the contract of permit. Thus, the expression “Not later than in three months” designed for the filing of claims to provide guarantees, as well as other legal guarantees will be left out of the contract of permit. The option to prolong the contract for another year will be replaced with the option to prolong it for two years.
February 27, 2013 at 14:41