Armenian Energy and Natural Resources Minister Armen Movsisyan said electricity swap between Armenia and Iran will increase from the present 350 MW to 1,200 MW.

Iran and Armenia have signed a memorandum for the construction of a third power transmission line with a 400-kilovolt capacity.

Construction of the project that was launched on November 15, 2010 is being carried out by Iranian company Sanir. The construction is estimated to cost between €100-105 million.

Addressing an economic conference of the Republican Party of Armenia, Movsisyan said Iran-Armenia high-voltage electricity transmission line will enlarge the volume of the electricity swapped between the countries from present 350 megawatt to 1,200 megawatt.

He said the line would also enhance reliability of Armenian and Iranian energy systems' work and their safety, Fars News Agency reported.

At present, Iran and Armenia use two high-voltage lines for seasonal swap with zero balance.