Iran’s Energy Minister has announced that the capacity of electricity exchange between the Islamic Republic and Armenia will soon grow from 300 to 1200 MWs, Mehr News Agency reports.

Speaking at the opening ceremony of the 14th session of Iran-Armenia Joint Commission also attended by the Armenian Minister of Energy Infrastructure and Natural Resources Ashot Manukyan, Iranian Minister Hamid Chitchian said the joint session tackled implementation of the third power transmission line, North-South Transit Corridor as well as construction of a pipeline from the Persian Gulf to the Black Smea.

He pointed to the upcoming visit of Armenia’s president to Iran's capital in the near future, asserting that “the arrival in Tehran of Serzh Sargsyan would offer the best opportunity for the development of bilateral cooperation between Iran and Armenia in energy sector and economy.”

The official, while stressing that several platforms exist for expanding and deepening bilateral relations between the two states, also said that the 14th session of Iran-Armenia Joint Commission will pave the path for further bolstering of ties in various fields like rail, aviation, agriculture, livestock, water, electricity, mining, petroleum, petrochemicals and tourism sectors.”

Chitchian also dwelled upon electricity exchange between Iran and Armenia underlining that creation of infrastructures and construction of new transmission lines will raise volume and capacity of power exchanges between the two states.

Referring to commencement of constructing the third electricity transmission pipeline between the two sides, Iran’s energy minister said implementation of the new project will bring a fourfold rise in the capacity of power exchanges between the two countries.

Also, Chitchian voiced Iran’s readiness to step up economic cooperation with Armenia reiterating that the two neighboring countries could boost economic and energy relations more than in the past.