TEHRAN (FNA)- Iran's First Vice-President Eshaq Jahangiri in a meeting with Armenian Minister of Energy and Natural Resources Levon Yolyan underlined that Tehran sees no restriction to its expanding ties with Yerevan.

"Tehran sees no impediment or limit to the development of its economic relations with Yerevan," Jahangiri said during the meeting in Tehran on Tuesday.

Stressing the need for the rapid resumption of banking ties between the two countries, he said that the existing obstacles on the way of expanding the bilateral economic ties should be removed.

He also underlined the Iranian private companies' capability to implement different projects in Armenia.

Yolyan, for his part, said that Yerevan is aware of the Iranian companies' capabilities and experiences, and said, "We will prepare the grounds for the wider presence and operation of Iranian businesspersons, private sector and firms in Armenia."

Tehran and Yerevan have doubled efforts to increase ties and cooperation in different fields, specially after implementation of the nuclear deal between Iran and the world powers.

Iran and Armenia are planning to complete their third power transmission line in less than two years, a senior energy official announced in June.

"The construction of the third Armenia-Iran power line will be complete by 2018," Head of Niroo (Power) Research Institute of Iran (NRI)�Mohammad Sadeq Qazizadeh ansaid.

The official reiterated that the third power transmission line will allow Armenia and Iran to increase the amount of their swap deal of gas for electricity.

In August 2015, Yerevan and Tehran signed an agreement on the construction of the third power transmission line between the two countries. The cost of the project is about $120 million.

The gas pipeline between Armenia and Iran was commissioned in 2007. In return for Iranian gas Armenia ships electricity to Iran - 3 kWh for one cubic meters of gas.

In 2014, Armenia received 383 million cubic meters of Iranian gas at $189 for 1,000 cubic meters.� The Iranian gas is not sold to households or enterprises - it is converted into electricity by the Yerevan thermal power plant and much of it is shipped back to Iran.

By Fars News Agency