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

Currently, Iran sells about 35 MW a day to Pakistan, and the two countries want to boost supply to as much as 4000 MW, Bloomberg reports.

The Persian Gulf country’s power exports will reach a total of some $1bn in the current Iranian year ending March 19, Deputy Energy Minister Mohammad Behzad said, according to the report.

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