MASHHAD, Khorasan Province -- Construction of the Iran-Turkmenistan Friendship Dam to be completed 14 months ahead of schedule, deputy managing director of the dam Reza Afsharzadeh said on Friday.

Speaking to IRNA, he said as per schedule the dam was supposed to become operational in 2005 but following a protocol signed between the two countries' presidents the construction of the dam will be completed in 2004.

Based on the first agreement, each side was responsible to construct 50 percent of the dam but following the recent agreement made between the two countries' presidents, Iran undertook 80 percent while Turkmen took the remaining 20 percent of the construction process, he said.

Around 61 percent of the construction work has been completed by now, he said.

Some Rls.500 billion has been allocated for construction of the dam and its required hydro-mechanical and electrical equipment, he concluded.