ArmInfo. Armenian President Vahagn Khachaturyan discussed practical steps to strengthen ties between the business communities of the two countries with the Minister of Energy and Infrastructure of the United Arab Emirates (UAE) Suhail Al Mazrouei and CEO of Etihad Rail Shadi Malacca.
As reported by the press service of the Armenian President, the parties noted that strengthening cooperation will contribute to the intensification of economic ties. In this regard, the meeting participants highly appreciated the stable partnership that has formed between Armenia and the Emirates, emphasizing the positive dynamics of the development of bilateral relations.
The parties considered the prospects for implementing various investment programs in areas of mutual interest to both countries, emphasizing the importance of realizing the potential of cooperation in such areas as infrastructure, energy, and high technology. The interlocutors also agreed to make joint efforts to improve the investment climate, emphasizing the importance of this process for the economic development of Armenia and the UAE.
According to the source, the discussion also included an exchange of views on the implementation of the Armenian government's "Crossroads of the World" project.
In July 2022, Masdar was declared the winner of the tender for projects to build the Ayg-1 photovoltaic station. According to the tender proposal, the company offered a fairly low tariff for the future solar power plant - $0.0290 excluding VAT per 1 kWh of electricity.
Note that the Ayg-1 solar power plant, with a capacity of 200 MW, will be built in the communities of Dashtadem and Talin on an area of 490 hectares. The construction of the facility will be carried out by the UAE company Masdar, from which the shares of the company created in Armenia were redistributed (85% of the shares belong to the Arab company and 15% to the RA government after the liquidation of the State Interests Fund). The construction of Ayg-1 will contribute to the growth of the country's energy security. At the same time, as the Minister of Economy of Armenia Gevorg Papoyan noted in an interview with Armenian media, the Ministry of Economy is confident that the construction of the solar station of the Emirati company Masdar will begin in 2025.
Masdar is a subsidiary of Mubadala Investment Company, UAE, with total assets of $220 billion and one of the world's leading companies in the field of renewable energy sources.
