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24 June 2008 - Iran's Deputy Energy Minister and Armenia's Energy and Natural Resources Minister signed two Memoranda of Understandings (MOUs) on construction of a hydro-electric power plant on Aras River.

According to a report by Islamic Republic of Iran's Embassy in Armenia, Rasul Zargar, Iran's Deputy Energy Minister in Water Affairs, discussed the outlook of cooperation between Iran and Armenia concerning generation of electricity and issues related to construction of a hydro-electrical power plant on Aras River with the Armenian Energy and Natural Resources Minister Armen Movsisyan and his deputy in Armenia's capital city, Yerevan.

The principle agreement on construction of Aras hydro-electrical power plant was signed during President Ahmadinezhad's state visit to Armenia in the year 2006.

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