TEHRAN — Iran and Armenia have signed a new contract for the construction of a third power transmission line that will enable the two countries to exchange more electricity.

According to Iranian media, the contract was signed by Ali Salehabadi, managing director of the Export Development Bank of Iran (EDBI), and Aram Ananian, managing director of Armenia’s High Voltage Electricity Network (HVEN) company in Tehran on Sunday.

According to the contract, EDBI will provide €83 million of the total €107.9 million needed to build the power line. The project will be ready in a period of 18 months to exchange electricity between Iran and Armenia.

Salehabadi said that the two countries have had good cooperation in the fields of gas and electricity. “Suitable grounds for the conclusion of this contract were provided in a trip to Armenia and through negotiations with that country’s Energy Ministry officials and prime minister, and the contract was signed today with HVEN company.” EDBI managing director said.

He added that current transferring lines have only 300 megawatts capacity and they could not be used more for exchanging electricity.

“Commissioning of the new power line between Iran and Armenia will further strengthen trade ties between the two countries and even Georgia can take advantage of this electricity transmission line,” he said.

Aram Ananian said that by execution of the third line, electricity transfer of two circuits 700 kilovolts between the two countries would be provided and the two states can exchange totally one thousand megawatts electricity.

He said that by building the third line between Iran and Armenia, the Iranian electricity national grid will be connected to the Armenia, Georgia, Russia and Turkey.

 

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