Bank Saderat Iran will finance construction of the third Iran-Armenia power transmission line, worth €107 million, Panorama.am reports citing Iranian sources.

According to Executive Director Ali Saleh Abadi, the bank will allocate €83 million to complete the project.

The first batch of equipment and machinery necessary for the construction of power transmission line will be delivered to Armenia in the coming days.

The 400kV transmission line is planned to be 279 km long.