YEREVAN. – Signing of a document on construction of a third power transmission line between Armenia and Iran that followed an agreement reached with the six powers proves Armenia’s importance for Iran, expert on Iran Vardan Voskanyan told reporters.

“The concerns that Armenia may lose its significance for Iran after the sanctions are lifted seem to vanish. The Iranian side once again shows its will to continue cooperation with Armenia and implement all projects that were either frozen or slowed down in connection with the sanctions imposed against the Islamic Republic,” he said.

Last week the Export Development Bank of Iran (EDBI) and the Hayoun Company of Armenia signed a contract for building the third electricity transfer line of two circuits 400 kilovolts. According to the contract, the EDBI will allocate €83 million from the €107.9 million of the total cost of the project.

The project will be ready within eighteen months to exchange electricity between Iran and Armenia.