Gagrule.net News, Views, Interviews worldwide
Bank Saderat Iran will finance construction of the third Iran-Armenia power transmission line, worth €107 million, Panorama.am reports citing Iranian sources.
According to Executive Director Ali Saleh Abadi, the bank will allocate €83 million to complete the project.
The first batch of equipment and machinery necessary for the construction of power transmission line will be delivered to Armenia in the coming days.
The 400kV transmission line is planned to be 279 km long.
The construction of the third power line between Armenia and Iran will resume this week announced the first Minister of Armenia, Hovik Abrahamyan.
The corresponding document was signed a few days ago, he said.
The Iranian Mehr news agency reported that the agreement for the construction of the third high voltage line connecting the energy systems of the two countries was signed Wednesday, August 12th. The contract worth € 107 million considering the construction of the power line with a total length of 275 km in two years. This will allow both parties to triple their energy exchanges.
The Prime Minister said Iran is a reliable and important partner for Armenia, and new economic opportunities and prospects are opened in the bilateral relationship today.
The contractor of the project, Iranian society Sunir should build the power line, supply and install the equipment, launch and operate the electrical connection. About 70% of the funds required for the project will be provided by the Export Development Bank of Iran, with the rest funded under Sunir.
Iran intends to use this project to connect the Russian and Georgian energy systems and expand its electricity supplies to the Transcaucasia.