The process of "Design, Engineering, Procurement, Supply, and Construction of Armenia-Iran third Power Transmission Line and Related Substation" Project, upcoming plans and objectives were discussed by the management and representatives of “High Voltage Electric Networks” CJSC, Export and Development Bank of Iran and “SUNIR International FZE" Company. Issues related to extension of Loan Agreement term and revision of interest rates within the framework of the Project were also discussed. Parties have signed a new Agreement according to which the construction of Iran-Armenia 400kV third power transmission line and related substation ("Noravan" 400/220/20 kV) Project is foreseen to be completed by the end of 2019. In favor of the Armenian side the loan interest rate has also been changed.
General Director of "High Voltage Electric Networks" CJSC Razmik Khachatryan noted that the high quality of works being implemented in the framework of the Project and the fact of not falling behind the time schedule is a high priority of our Company. According to him, Iran-Armenia 400kV third power transmission line and "Noravan" Substation play a great role in the enhancement of power transmission capacity between Armenia and Iran energy systems, increasing the reliability of connection between the southern and central parts of our Republic, energy system security and insurance of energy systems reliable work.
