ArmInfo.Acting Minister of Energy Infrastructures and Natural Resources of Armenia Garegin Baghramyan, on October 23, visited the state-owned High Voltage Electric Networks CJSC, where he held a working meeting.
According to the press service of the department, Garegin Baghramyan during the meeting pointed out the importance of implementing all the company's programs in a timely manner and with high quality. In this context, the Acting minister, in particular, touched upon the construction projects of the Iran-Armenia high- voltage power transmission line and the electric substations held by the company.
Speaking of structural reforms and cost optimization in the energy sector, the Acting Minister noted that the saved financial expenses will be directed both at solving problems in the system and at reducing tariffs for the services rendered.
To recall on August 9 in Tehran, Iran and Armenia signed a new agreement on the construction of the 3rd high-voltage power line. Under the terms of the agreement, the Iranian side in the name of EDBI will provide $ 90.5 million of the total project financing amount of $ 117.6 million. It was agreed to complete construction work on the transmission line route within 18 months. With the commissioning of the third high-voltage one, the interchange of electricity between Armenia and Iran from the current 300 MW will increase to 1000 MW.
Thus, the new communication will provide an opportunity to increase the flow of electricity in both directions at once by 700 MW. The new power transmission lines will also increase the opportunities for countries in the Caucasus region to exchange electricity on a more impressive basis. Georgia, Russia and Turkey will benefit from the commissioning of the 3rd Armenian-Iranian line. The Iranian electricity distribution network gets the opportunity to be docked through the corresponding infrastructure of Armenia and Georgia with the power systems of Russia and Turkey. To note the total cost of the project previously was 107.9 million euros, which Iran should have provided in the form of a loan, including a loan of 83.083 million euros signed in September 2011 and an additional 24.817 million euros in April 2012. In accordance with the contract, the construction of power lines was supposed to be completed within 18 months from the date of opening of financing. However, due to the sanctions imposed against Iran, the project implementation dates were constantly postponed.