Iran and Armenia signed a memorandum of understanding (MoU) in Tehran Saturday to boost bilateral cooperation in the field of electricity.
The MoU was signed by Iran's Energy Minister Habibollah Bitaraf and his Armenian counterpart Armen Movsisyan.
Under the MoU, Iran and Armenia reached consensus to implement the third 400-kw two-circuit transmission line project, valued at 90 million dollars, <i>IRNA</i> reported.
The two countries are also slated to implement the second phase of the Iran-Armenia pipeline project, worth 130 million dollars and the complementary project of the fifth unit of the Hrazdan thermal power plant.
Under the framework of the agreement, Iranian companies of the Iran Power Plant Projects Management Company (MAPNA) and Sanir are due to add a new unit of gas power plant - capable to be transformed into combined cycle - to Armenia. The project is worth 150 million dollars.
Based on the accord, the implementation of the said project should be finalized in 2007.
