Construction of third Iran-Armenia electric power line planned to be completed by 2017
Construction of third Iran-Armenia electric power line planned to be completed by 2017 –
ARKA – The construction of the third Iran-Armenia electric power line is planned to be completed by 2017, Armenian Deputy Energy and Natural Resources Minister Ara Simonyan said Tuesday while discussing the draft government budget for 2015 with the National Assembly’s committees.
In his words, the agreement with Germany on financing the first stage of the construction is now close to signing. The first stage of the construction is estimated to cost €5.2 million.
The Armenian prime minister discussed the matter with Iranian authorities as visited the country. “All arrangements were made and all obstacles removed,” he said. “We expect that the construction will be launched very soon.”
Simonyan said that the third electric power line is planned to be built in 18 months.
“It means we will have strong energy ties with neighboring countries, since a similar project is being implemented with Georgia.”
According to the Armenian energy ministry, the total cost of the project is €107.9 million, of which €27.5 million will be provided by the Armenian side.
The construction of the third Iran-Armenia electric power line is one of the most important regional cooperation programs in energy area, just like the construction of an electric power line with Georgia, for which Germany’s KfW Bank has provided €75 million as loan and €2 million in grants.
The construction of the Iran-Armenia power transmission line is being carried out by Sanir, an Iranian company that has got tax and customs preferences from Armenia’s government. The project will be financed by Export Development Bank of Iran.