DUSHANBE, September 5 (Itar-Tass) — Iranian President Mahmoud Ahmadinejad has described the Sangtuda-2 hydropower plant that is being built on Tajikistan’s Vakhsh River under Iran’s financial support as “the project of friendship and fraternity of the Iranian and Tajik nations.”

Alongside with his Tajik counterpart Emomali Rakhmon he was taking part in the inauguration ceremony of the plant’s 110-MW first stage.

“Our cooperation is targeted at ensuring peace and stability in the region,” Ahmadinejad said promising that in the future Iran plans to import water and electric power from Tajikistan in exchange for oil and gas exports.

The Tajik leader underlined that the hydropower plant will be fully commissioned by the end of the year and its capacity will reach 220 MW, which will increase the Central Asian republic’s electric power production to 1 billion KWh. This will partially resolve Tajikistan’s acute electric power deficit, which reaches 3 billion kWh in autumn and winter.

Sangtuda-2 is located close to Sangtuda-1 that was built on Russia’s investments. At present, the plant generates up to 16 percent of Tajikistan’s total electric power output.

The construction of Sangtuda-2 began 110 kilometers southeast of Dushanbe in February 2006. Iran invested 180 million dollars into the project. Tajikistan’s share totalled 40 million dollars.

Under the two countries’ intergovernmental agreement Iran will get revenues from the plant’s electric power generation during 12.5 years and after this Tajikistan will get full ownership of the plant.

After the Sangtuda-2 first stage’s inauguration ceremony and the official talks with Rakhmon on Sunday Ahmadinejad completed his two-day visit to Tajikistan.