Iran and Armenia agree to build $117 million power transmission line

Iran and Armenia agree to build $117 million power transmission line
# 13 August 2015 09:02 (UTC +04:00)

Baku – APA. The Export Development Bank of Iran (EDBI) has signed a contract with Armenia’s High Voltage Electricity Network (HVEN) for the development of a $117 million power transmission line to facilitate more electricity trade between the two countries, APA reports quoting Tender News.

Under the contract, EDBI will provide $91 million in financing to support the construction of the third Iran-Armenia power transmission line.

Armenia will own 20% stake in the project, which is planned to be completed in 18 months and be commissioned in 2018.

Armenian officials have said that the third power transmission line is likely to be connected to the national power grids of Armenia, Georgia, Russia and Turkey.

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THE OPERATION IS BEING PERFORMED