Lori-Berd power plant to cost $90-$100 mln

Lori-Berd power plant to cost $90-$100 mln

June 15 2004

Yerevan. (Interfax) – It will cost $90 million – $100 million to build
the Lori-Berd hydro power plant in Armenia’s Lori region, Alexander
Beck, representative of the German engineering company Fichtner,
which is working on a feasibility study to build the hydro plant,
told Interfax.

The study for the plant, with a capacity of 56 megawatts, will be
finished by the end of 2004 and will be financed by an EU grant.

Feasibility studies under the EU program to build five to seven
hydro power plants with a total capacity of 70 megawatts in Armenia
are planned to be completed by the end of 2004. The Lori-Berd is the
largest of the plants.

German Bank Kreditanstalt fuer Wiederaufbau plans to extend Armenia
a loan worth 30 million euros in 2005 to implement the program to
build small hydro power plants.

Fichtner works in the power and environmental protection sectors.