Iran, Armenia sign 107 mln euro agreement to build power line - report
YEREVAN. Aug 13 (Interfax) - Iran and Armenia signed an agreement on Wednesday on the construction of a third power line that will link the two countries' power grids, Iranian news agency Mehr reported.
They signed a contract worth 107 million euros that calls for building a 275-km power line over two years that will make it possible to triple the flow of electricity between the two countries.
The contractor for the project will be Iran's Sunir, which will carry out the construction work, supply and install the equipment, and launch and operate the power line.
About 70% of the cost will be financed by the Export Development Bank of Iran, and Sunir will finance the remainder.
Iran hopes to use the power line to connect to the power grids of Georgia and Russia and expand exports of electricity to the Trans-Caucasus region.
