As part of the investment, it includes commissioning of power transmission line between the two countries, Armenia and Iran.
The other project includes Iran to build a pipeline to transfer gas to Armenia and in return will import electricity from the neighboring country.
The investment will increase the bordering Aras River hydraulic power plant’s capacity to 1.7gW every year.
In addition, Iran and Armenia in the past years, have signed agreements on energy cooperation and agreed to cooperate in technology and research and to enhance ties in commerce and economy.
Armenia and Iran in January, have entered into an agreement for constructing a $240m oil pipeline between the two countries, reports xinhuanet.com
