Iran and Armenia have announced plans to construct a third electricity transmission line with a capacity of 800-900MW between the two countries.
Construction this $110m worth transmission line will increase swap of electricity between the two neighboring countries.
Armenian Energy and Natural Resources Minister Armen Movsisian said the new line will augment the volume of power exchange between the two countries from the current 300MW to 500-800MW.
Construction of the Iran-Armenia electricity transmission line is expected to start within two weeks time.
Iranian Energy Minister Majid Namjoo also announced that the two countries are also planning to develop two hydroelectric plants of 180MW in Iran and Armenia on the Aras River.
A consortium formed by a group of Iranian companies will undertake the construction of the power plant in Armenia with an estimated cost of about $450-500M.