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Iran, Pakistan Plan $718 Million Power Grid, Tehran Times Says

Iran and Pakistan agreed to invest $718 million in a network for transmitting electricity from Iran to its eastern neighbor, Tehran Times reported, citing Energy Minister Majid Namjou.

Iran sells about 35 megawatts a day to Pakistan, and the two countries want to boost supply to as much as 4,000 megawatts, the Tehran-based newspaper said. The Persian Gulf country’s power exports will reach a total of some $1 billion in the current Iranian year ending March 19, Deputy Energy Minister Mohammad Behzad said, according to the report.