Pan Armenian News
JAPAN TO PROVIDE $150 MILLION TO ARMENIA FOR MODERNIZATION OF YEREVAN
THERMAL PLANT
27.05.2005 02:50
/PanARMENIAN.Net/ Japanese Bank of International Cooperation will provide a
credit of $150.2 million to the Armenian Government for modernization of the
Yerevan Thermal Plant. The Armenian Parliament has approved of the
respective agreement. Deputy Minister of Energy Ara Simonian, who presented
the agreement, reported a new combined cycle energy bloc of 200-210 MW will
be built at the Yerevan Thermal Plant due to the allocation. The plant is
planned to function 7 thousand hours annually and to generate 1.4-1.5 kWh
electric power. The program should be implemented by the Thermal Plant
itself, to which the Armenian MPs have also provided tax benefits, the RBC
reported.