TEHRAN (IRNA) -- Energy ministers of Iran, Armenia and Georgia signed a memorandum of understanding (MOU) in Yerevan on Saturday on an agreement for supply of electricity.

The three ministers in the MOU stressed the importance of boosting their tripartite cooperation in the field of energy.

Iranian Energy Minister Parviz Fattah said that based on the MOU Iran would supply electricity to Georgia via Armenia and vice-versa.

He said that Iran will transfer some 50 MW of electricity to Georgia within the next two to three months while Georgia would transfer the same amount in spring.

The Iranian minister said that the exchange of electric power would be increased to 350 MW in the next two years.

He said that some 800 MW of electricity have been imported into the country from Georgia this summer, adding that Iran now has the capacity to produce electricity more than domestic demand which it can export. =========== Aras Dam contract to be finalized by March 2007

Energy Minister Parviz Fattah also said Iran would finalize a contract with Armenia to construct a dam in Aras by the end of the current Iranian year, falling on March 20, 2007.

Speaking at the sideline of a meeting with Armenian Energy Minister in Yerevan, Fattah said that studies conducted on construction of a dam over Aras River has finished. Iran and Armenian have reached the agreement to jointly build the dam, and they will finalize the contract by March 2007, he reiterated. The minister further said that construction operations of the dam are to be launched in 2007. “The joint construction of Aras Dam will have great impact on the development of bilateral political and economic ties.”

He also stated that Iran’s gas conveyance pipe to Armenia will come on stream by March 2007.