TEHRAN – A 270-kilometer power transmission line between Iran and Armenia, the longest overseas line in Armenia, has reached 90 percent of physical progress, IRIB reported.

As reported, this 400 kV transmission line, which is being constructed in the forested, mountainous, and difficult-to-access areas of Armenia, is expected to be completed in the near future to facilitate the exchange of electricity between the two neighbors.

Iran and Armenia have been cooperating for years in gas and electricity swaps, and two-way economic and political ties have grown in tandem with an increase in trade.

Back in July 2019, the two countries signed a memorandum of understanding (MOU) in Tehran to expand economic cooperation, especially in the field of energy.

The MOU was signed by the Iranian Energy Minister at the time Reza Ardakanian and Armenian Deputy Prime Minister Mher Grigoryan at the end of the 16th Iran-Armenia Joint Economic Committee meeting.

Based on the MOU, the two sides agreed to complete the construction of an electricity transmission line from Iran to Armenia in order to increase the country’s electricity exports to Armenia to over 1000 megawatts (MW).

The MOU also covered cooperation in a variety of areas including road and railway transportation, customs, standardization, establishing free trade zones as well as industry, mining, and trade.

On the sidelines of the mentioned meeting, Ardakanian voiced Iran’s readiness to increase gas exports to Armenia and in this regard, the two sides agreed to take necessary measures in order to provide infrastructure in this due.

Iran and Armenia use a barter system to exchange gas for electricity and other basic goods.

EF/